By Marisa Wong
Madison, Wis., Aug. 9 - Bank Sinopac issued a total of NT$6.8 billion of subordinated financial debentures in two series, according to an announcement by SinoPac Holdings.
Sinopac Securities Corp. is the underwriter.
The issuer priced NT$3.8 billion of series A bonds due Aug. 18, 2018 and NT$3 billion of series B bonds due Aug. 18, 2021 at par.
Interest for the series A bonds is fixed at 1.95%, and interest for the series B bonds is fixed at 2.18%.
Proceeds will be used to improve the BIS ratio and provide the mid/long-term funding resource for the capital needs of SinoPac subsidiaries.
This is the bank's second issue of financial debentures in 2011.
Settlement will occur on Aug. 18.
SinoPac is a Taipei, Taiwan-based banking and securities company.
| Issuer: | Bank SinoPac
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$6.8 billion
|
| Agent: | SinoPac Securities Corp.
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 18
|
|
|
| Series A
|
| Amount: | NT$3.8 billion
|
| Maturity: | Aug. 18, 2018
|
| Coupon: | 1.95%
|
| Price: | Par
|
| Yield: | 1.95%
|
|
|
| Series B
|
| Amount: | NT$3 billion
|
| Maturity: | Aug. 18, 2021
|
| Coupon: | 2.18%
|
| Price: | Par
|
| Yield: | 2.18%
|
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