By Marisa Wong
Morgantown, W.Va., Dec. 2 – Bank SinoPac said it priced NT$140 million of perpetual non-cumulative subordinated financial debentures at par to yield 3.9%.
The bonds are callable after five years.
Proceeds from the non-underwritten offering will be used to improve the BIS ratio and provide mid- to long-term funding.
This is the bank’s fourth issue of perpetual non-cumulative subordinated financial debentures for 2015.
Settlement will occur on Dec. 15.
SinoPac is a Taipei, Taiwan-based banking and securities company.
Issuer: | Bank SinoPac
|
Issue: | Subordinated financial debentures
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Amount: | NT$140 million
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Maturity: | Perpetual
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Coupon: | 3.9%
|
Price: | Par
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Yield: | 3.9%
|
Call option: | After five years
|
Underwriters: | None
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Announcement date: | Dec. 2
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Settlement date: | Dec. 15
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