Taishin gets board approval for up to NT$6 billion subordinated bonds

By Jennifer Chiou

New York, Sept. 2 - Taishin Financial Holding Corp. announced that Taishin Bank obtained authorization from its board of directors for a second issue of non-cumulative subordinated financial bonds.

The bank may issue up to NT$6 billion of the bonds.

In March, the company announced a planned NT$10 billion maximum amount of seven-year subordinated financial debentures.

As with the other issue, the coupon, among other terms, will be determined by market conditions, and Taishin may issue the securities from time to time for a period of one year.

Proceeds will be used to strengthen capital structure and enhance the bank's capital adequacy ratio.

Taishin is a bank based in Taipei, Taiwan.

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