By Marisa Wong
Madison, Wis., May 13 – E.Sun Bank priced $85 million of 4.97% perpetual non-cumulative subordinated debt at par, according to an announcement by parent company E.Sun Financial Holding Co., Ltd.
This is E.Sun’s second issue of perpetual non-cumulative subordinated debt of 2015.
The notes are conditionally callable after 15 years.
The notes will settle on May 27.
Proceeds from the non-underwritten offering will be used to strengthen the bank’s capital structure and enhance the BIS ratio.
The bank is based in Taipei, Taiwan.
| Issuer: | E.Sun Bank
|
| Issue: | Perpetual non-cumulative subordinated debt
|
| Amount: | $85 million
|
| Maturity: | Perpetual
|
| Coupon: | 4.97%
|
| Price: | Par
|
| Yield: | 4.97%
|
| Call option: | Conditionally after 15 years
|
| Underwriter: | None
|
| Settlement date: | May 27
|
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