Fitch rates Standard Chartered bank bond AAA(twn)

Fitch Ratings said it assigned a national long-term rating of AAA(twn) to Standard Chartered Bank (Taiwan) Ltd.'s NT$2.75 billion proposed two- to 51/4-year senior unsecured bond.

The bond, issued in three tranches, carries both floating and fixed coupons and will mature on June 23, 2013 and Sept. 23, 2016, respectively.

This bond is rated at the same level as the bank's national long-term rating of AAA(twn), which has a stable outlook, Fitch said.

The new bond issue is aimed at securing more stable and term funding, the agency said.

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