Far Eastern eyes up to NT$10 billion senior, subordinated debt

By Marisa Wong

Morgantown, W.Va., Nov. 2 – Taiwan’s Far Eastern International Bank’s board of directors approved the issuance of up to NT$4 billion of subordinated debentures and up to NT$6 billion, or its equivalent in other currencies, of senior financial debentures, according to a Taiwan Stock Exchange notice.

The subordinated debt will have terms of up to 15 years, and the senior debt will have maturities of up to 30 years.

The debentures will be offered at par.

Proceeds will be used to finance long-term funding needs and enhance the bank’s capital structure to support future growth of loans and investments.

The bank is based in Taipei, Taiwan.

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