By Marisa Wong
Madison, Wis., Oct. 12 - Taishin Financial Holding Co. announced that its subsidiary, Taishin Bank, priced NT$5.6 billion of subordinated bank debentures in two tranches.
The issuer priced NT$1.1 billion of seven-year tranche A bonds at par to yield 1.53% and NT$4.5 billion of 10-year tranche B bonds at par to yield 1.65%.
This is the bank's first series of debentures for 2012. Taishin Financial announced in August that its subsidiary planned to issue up to NT$15 billion of subordinated financial debentures this year.
Funds from the non-underwritten offering will be used to redeem existing subordinated bank debentures, to strengthen capital structure and to enhance the capital adequacy ratio.
Settlement for the first series will be on Oct. 19.
The bank and its parent company are based in Taipei, Taiwan.
| Issuer: | Taishin Bank
|
| Issue: | Subordinated bank debentures, series 1
|
| Amount: | NT$5.6 billion
|
| Underwriter: | None
|
| Announcement date: | Oct. 12
|
| Settlement date: | Oct. 19
|
|
|
| Tranche A
|
| Amount: | NT$1.1 billion
|
| Maturity: | Oct. 19, 2019
|
| Coupon: | 1.53%
|
| Price: | Par
|
| Yield: | 1.53%
|
|
|
| Tranche B
|
| Amount: | NT$4.5 billion
|
| Maturity: | Oct. 19, 2022
|
| Coupon: | 1.65%
|
| Price: | Par
|
| Yield: | 1.65%
|
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