Published on 10/13/2021 in the Prospect News Emerging Markets Daily.
New Issue: Taiwan’s Bank SinoPac prices NT$1.7 billion 0.8% 10-year bonds at par
By Rebecca Melvin
Concord, N.H., Oct. 13 – SinoPac Financial Holdings Co., Ltd. announced that subsidiary Bank SinoPac priced NT$1.7 billion of 10-year unsecured subordinated financial debentures at par to yield 0.8%, according to a Taiwan Stock Exchange announcement.
Proceeds from the non-underwritten offering will be used to improve the bank’s BIS ratio and provide mid- and long-term funding resources for business expansions.
SinoPac is a Taipei, Taiwan-based banking and securities company.
| Issuer: | Bank SinoPac
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| Issue: | Subordinated financial debentures, 2021 fifth issue
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| Amount: | NT$1.7 billion
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| Maturity: | Oct. 28, 2031
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| Coupon: | 0.8%
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| Price: | Par
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| Yield: | 0.8%
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| Announcement date: | Oct. 13
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| Settlement date: | Oct. 28
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