Taiwan's Chinatrust Financial plans to issue NT$2.5 billion corporate bonds

By Reshmi Basu

New York, Jan. 19 - Chinatrust Financial Holding Co. Ltd. said its board of directors has given permission for its subsidiary Chinatrust Bills Finance Co. Ltd. to issue up to NT$2.5 billion in corporate bonds this year.

The president has been given authority to finalize among other things, the face value, timing, coupon and underwriting methods of the proposed issuance.

The issue price will be 100% of the principal amount.

The proceeds from the sale will be used to strengthen the financial structure and reduce fund costs.

Chinatrust Financial Holdings, based in Taipei, is Taiwan's fourth-biggest financial service company.

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