By Marisa Wong
Morgantown, W.Va., May 30 – Shin Kong Financial Holding Co., Ltd. announced that Shin Kong Bank priced NT$4.5 billion of 2.2% perpetual non-cumulative subordinated financial debentures at par.
The debentures are conditionally callable after five years.
Proceeds will be used to raise mid- to long-term capital and to strengthen the bank’s financial structure.
Shin Kong is an investment holding company based in Taipei, Taiwan.
| Issuer: | Shin Kong Bank
|
| Issue: | Perpetual non-cumulative subordinated financial debentures
|
| Amount: | NT$4.5 billion
|
| Maturity: | Perpetual
|
| Coupon: | 2.2%
|
| Price: | Par
|
| Yield: | 2.2%
|
| Call option: | Callable after five years and three months if bank’s ratio of adjusted net capital to risk-based capital meets required minimum ratio
|
| Announcement date: | May 30
|
| Settlement date: | June 21
|
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