New Issue: Far East International Bank $100 million convertible yields 0%, up 18%

By Ronda Fears

Nashville, July 25 - Far East International Bank sold $100 million of five-year convertibles at par to yield 0% with an 18% initial conversion premium, via sole lead manager UBS Investment Bank.

The Regulation S issue sold at the cheap end of guidance of an 18% to 23% conversion premium.

Terms of the new deal are:

Issuer: Far East International Bank

Issue:	Convertible unsecured senior bonds
Joint lead managers:	UBS Investment Bank
Amount	$100 million
Greenshoe:	$10 million
Maturity:	July 31, 2008
Coupon:	0%
Price:	Par
Redemption price:	Par
Yield:	0%
Conversion premium:	18%
Conversion price:	NT$17.52, with downward reset provision
Fixed FX rate:	NT$34.404 equals US$1.00
Conversion ratio:	1,963.7
Call:	Non-callable for 2 years, then with 130% hurdle
Put:	In year 2
Price talk:	0%, up 18-23%
Pricing date:	July 25
Settlement:	July 31
Distribution:	Regulation S

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