Taishin and subsidiary to issue up to NT$25 billion of bonds

By Laura Lutz

Des Moines, May 8 - Taishin FHC said its board has decided to issue up to NT$20 billion of unsecured corporate bonds, and its subsidiary Taishin International Bank said its board decided to issue up to NT$5 billion of unsecured subordinate bank debentures.

The corporate bonds will mature in seven to 10 years. They will not be convertible.

Issuance of the bank debentures is expected during 2008. They will mature in seven years and may be structured as convertibles.

The proceeds of corporate bonds will be used to redeem outstanding unsecured corporate bonds and to enhance Taishin FHC's capital adequacy ratio. Proceeds of the bank debentures will be used to redeem some or all of Taishin International Bank's 90-1 unsecured subordinate bank debentures.

Taishin is a bank based in Taipei, Taiwan.

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