By Rebecca Melvin
Concord, N.H., July 13 – Hotai Finance Co., Ltd. priced NT$3 billion of five-year corporate bonds with a 0.56% coupon, according to a notice.
It is the second issuance of 2021 linked to the company’s Jan. 28 announcement of plans to issue up to NT$6 billion of straight corporate bonds. The first issuance was NT$2.2 billion of 0.55% bonds due in five years priced on April 7. All of the notes will have fixed rates, maturities of no more than seven years and will be priced at par.
Hua Nan Commercial Bank Ltd. was underwriter of the issue, the proceeds of which will be used to repay debt.
Hotai Finance is a consumer financing services company based in Taipei, Taiwan, and a subsidiary of automotive conglomerate Hotai Motor Co., Ltd.
| Issuer: | Hotai Finance Co. Ltd.
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| Issue; | Fixed-rate bonds
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| Amount: | NT$3 billion
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| Maturity: | Five years
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| Bookrunner: | Hua Nan Commercial Bank Ltd.
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| Coupon: | 0.56%
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| Price: | Par of NT$1,000,000
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| Pricing date: | July 13
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