By Marisa Wong
Morgantown, W.Va., Feb. 15 – Bank SinoPac priced NT$2.25 billion of subordinated financial debentures in two tranches, according to a Taiwan Stock Exchange announcement.
The bank priced NT$150 million of seven-year series A debentures at par to yield 1.6% and NT$2.1 billion of 10-year series B debentures at par to yield 1.9%.
Proceeds from the non-underwritten offering will be used to improve the BIS ratio and provide mid- to long-term funding for business expansion.
This is the bank’s first issue of subordinated financial debentures for 2017.
Settlement will occur on Feb. 24.
SinoPac is a Taipei, Taiwan-based banking and securities company.
| Issuer: | Bank SinoPac
|
| Issue: | Subordinated financial debentures, 2017 first issue
|
| Amount: | NT$2.25 billion
|
| Underwriters: | None
|
| Announcement date: | Feb. 15
|
| Settlement date: | Feb. 24
|
|
|
| Series A
|
| Amount: | NT$150 million
|
| Maturity: | Feb. 24, 2024
|
| Coupon: | 1.6%
|
| Price: | Par
|
| Yield: | 1.6%
|
|
|
| Series B
|
| Amount: | NT$2.1 billion
|
| Maturity: | Feb. 24, 2027
|
| Coupon: | 1.9%
|
| Price: | Par
|
| Yield: | 1.9%
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
