By Marisa Wong
Madison, Wis., March 27 – Ta Chong Bank, Ltd. priced NT$2 billion of 2.08% subordinated bank debentures, according to a Taiwan Stock Exchange notice.
The seven-year bonds will be issued at par.
This is the bank’s first issue of subordinated bank debentures for 2015.
In January, the company announced plans to issue NT$6 billion of subordinated debt with maturities of up to 10 years.
Proceeds from the non-underwritten first tranche will be used to strengthen the bank’s financial structure and to increase its capital adequacy ratio.
The bank is based in Taipei, Taiwan.
| Issuer: | Ta Chong Bank, Ltd.
|
| Issue: | Subordinated bank debentures
|
| Amount: | NT$2 billion
|
| Maturity: | March 30, 2022
|
| Coupon: | 2.08%
|
| Price: | Par
|
| Yield: | 2.08%
|
| Underwriter: | None
|
| Announcement date: | March 27
|
| Settlement date: | March 30
|
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