By Marisa Wong
Madison, Wis., Dec. 31 - Taishin Financial Holding Co. announced the issue of NT$2.7 billion of seven-year subordinated corporate bonds.
The bonds were priced at par with a floating interest rate equal to the regular one-year time deposit of Chunghwa Post Co., Ltd. plus 70 basis points per year.
Proceeds will be used to replenish operating capital for future debt repayment, strengthen the company's financial structure and enhance the capital adequacy ratio.
This is the bank holding company's second issue of unsecured subordinated corporate bonds in 2010.
SinoPac Bank is the trustee for the bonds.
Taishin Financial is the Taipei, Taiwan-based holding company of Dah An Commercial Bank and Taishin International Bank.
| Issuer: | Taishin Financial Holding Co.
|
| Issue: | Subordinated corporate bonds
|
| Amount: | NT$2.7 billion
|
| Maturity: | Seven years
|
| Coupon: | One-year time deposit of Chunghwa Post Co., Ltd. plus 70 bps
|
| Price: | Par
|
| Yield: | One-year time deposit of Chunghwa Post Co., Ltd. plus 70 bps
|
| Pricing date: | Dec. 31
|
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