By Marisa Wong
Madison, Wis., Sept. 5 - Bank SinoPac priced a total of NT$6 billion of subordinated financial debentures in two series, according to an announcement by SinoPac Holdings.
SinoPac Securities Corp. and Yuanta Securities Corp. are the underwriters.
The issuer priced NT$4.7 billion of seven-year series A bonds and NT$1.3 billion of 10-year series B bonds at par.
Interest for the series A bonds is fixed at 1.53%, and interest for the series B bonds is fixed at 1.65%.
Proceeds will be used to improve the BIS ratio and provide a mid-/long-term funding resource for the capital needs of SinoPac's subsidiaries.
This is the bank's first issue of financial debentures for 2012.
Settlement will occur on Sept. 18.
SinoPac is a Taipei, Taiwan-based banking and securities company.
| Issuer: | Bank SinoPac
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$6 billion
|
| Underwriters: | SinoPac Securities Corp. and Yuanta Securities Corp.
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 18
|
|
|
| Series A
|
| Amount: | NT$4.7 billion
|
| Maturity: | Sept. 18, 2019
|
| Coupon: | 1.53%
|
| Price: | Par
|
| Yield: | 1.53%
|
|
|
| Series B
|
| Amount: | NT$1.3 billion
|
| Maturity: | Sept. 18, 2022
|
| Coupon: | 1.65%
|
| Price: | Par
|
| Yield: | 1.65%
|
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