By Mary-Katherine Stinson
Lexington, Ky., Dec. 7 – Bank of Kaohsiung Co., Ltd. sold its fourth issue of non-cumulative perpetual subordinated debentures of 2022 in the amount of NT$210 million, according to a notice on Wednesday.
The debentures have a coupon of 3¾% and priced at par.
The debentures will be redeemable at par plus interest after five years provided that the post-redemption BIS ratio of the bank is above the legal requirement and the original debentures are replaced with equal or higher quality capital instruments.
Proceeds will be used to enhance the bank’s financial structure and contribute to its capital adequacy ratio.
Bank of Kaohsiung acts as the municipal treasury for Kaohsiung City, Taiwan, and conducts commercial banking operations.
| Issuer: | Bank of Kaohsiung Co., Ltd.
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| Amount: | NT$210 million
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| Issue: | Non-cumulative perpetual subordinated debentures
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| Maturity: | Perpetual
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| Coupon: | 3¾%
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| Price: | Par
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| Yield: | 3¾%
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| Call option: | At par plus interest after five years
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| Announcement date: | Dec. 7
|
| Issue date: | Dec. 21
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