Taiwan’s Far Eastern International eyes NT$4 billion subordinated debt

By Marisa Wong

Morgantown, W.Va., March 21 – Far Eastern International Bank’s board of directors approved the issuance of NT$4 billion of subordinated debt for 2017, according to a Taiwan Stock Exchange notice.

The subordinated debt will have terms of up to 10 years.

The bank intends to use proceeds to enhance long-term capital required for future loans and investments.

According to a separate notice, the bank’s board of directors also approved the issuance of up to NT$10 billion, or its equivalent in foreign currencies, of common stock, preferred stock or convertible bonds.

The bank is based in Taipei, Taiwan.

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