By Marisa Wong
Morgantown, W.Va., March 11 – Taiwan Business Bank Co. priced NT$5.8 billion of subordinated financial debentures in two tranches, according to a Taiwan Stock Exchange notice.
The bank priced NT$1 billion of series A bonds and NT$4.8 billion of series B bonds at par.
The seven-year series A bonds have a fixed coupon of 1.2%, and the 10-year series B bonds have a fixed coupon of 1.3%.
This is the company’s first issue of subordinated bonds for 2019.
The company said it will use funds from the issuance to enhance its financial structure and contribute to its capital adequacy ratio.
The bank is based in Taipei, Taiwan.
| Issuer: | Taiwan Business Bank Co.
|
| Issue: | Subordinated financial debentures, 2019 first issue
|
| Amount: | NT$5.8 billion
|
| Call option: | None
|
| Put option: | None
|
| Announcement date: | March 11
|
| Settlement date: | March 21
|
|
|
| Series A
|
| Amount: | NT$1 billion
|
| Maturity: | March 21, 2026
|
| Coupon: | 1.2%
|
| Price: | Par
|
| Yield: | 1.2%
|
|
|
| Series B
|
| Amount: | NT$4.8 billion
|
| Maturity: | March 21, 2029
|
| Coupon: | 1.3%
|
| Price: | Par
|
| Yield: | 1.3%
|
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