By Wendy Van Sickle
Columbus, Ohio, March 21 – Bank of Kaohsiung Co., Ltd. priced its first NT$1,057,000,000 of non-cumulative perpetual subordinated debentures of 2022, according to a notice on Monday.
The debentures carry a coupon of 2.05% and priced at par.
Proceeds will be used to enhance the bank’s financial structure and contribute to its capital adequacy ratio.
The debentures will be redeemable at par plus interest after five years.
Bank of Kaohsiung acts as the municipal treasury for Kaohsiung City, Taiwan, and conducts commercial banking operations.
| Issuer: | Bank of Kaohsiung Co., Ltd.
|
| Amount: | NT$1,057,000,000
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| Issue: | Non-cumulative perpetual subordinated debentures
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| Maturity: | Perpetual
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| Coupon: | 2.05%
|
| Price: | Par
|
| Call option: | At par plus interest after five years
|
| Announcement date: | March 21
|
| Issue date: | March 30
|
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