By Sarah Lizee
Olympia, Wash., Aug. 6 – SinoPac Financial Holdings Co., Ltd. announced that subsidiary Bank SinoPac priced NT$5 billion of subordinated financial debentures at par in three parts, according to a Taiwan Stock Exchange announcement.
The bank issued NT$1.5 billion of 2% perpetual debentures, NT$1.75 billion of 1.03% series A debentures due Aug. 23, 2026 and NT$1.75 billion of 1.13% series B debentures due Aug. 23, 2029.
The perpetuals are callable at par after five years and one month from issuance.
Proceeds from the non-underwritten offering will be used to improve the Bank for International Settlements ratio and provide the mid/long term funding resource for business expansions.
The perpetual debentures are the bank’s fourth issue of subordinated financial debentures for 2019. The seven- and 10-year debentures are the bank’s fifth issue.
Settlement will occur on Aug. 23.
SinoPac is a Taipei, Taiwan-based banking and securities company.
| Issuer: | Bank SinoPac
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$5 billion
|
| Underwriter: | None
|
| Price: | Par
|
| Announcement date: | Aug. 6
|
| Settlement date: | Aug. 23
|
|
|
| Perpetuals
|
| Amount: | NT$1.5 billion
|
| Maturity: | Perpetual
|
| Coupon: | 2%
|
| Call: | At par after five years and one month from issuance
|
|
|
| Series A debentures
|
| Amount: | NT$1.75 billion
|
| Maturity: | Aug. 23, 2026
|
| Coupon: | 1.03%
|
|
|
| Series B debentures
|
| Amount: | NT$1.75 billion
|
| Maturity: | Aug. 23, 2029
|
| Coupon: | 1.13%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
