By Mary-Katherine Stinson
Lexington, Ky., Dec. 29 – Taiwan’s Far Eastern New Century Corp. issued NT$3 billion of unsecured corporate bonds in two tranches, according to a notice.
The NT$700 million three-year tranche A bonds priced at par with a fixed coupon rate of 1.7%.
The NT$2.3 billion five-year tranche B bonds priced at par with a fixed coupon rate of 1.8%.
Yuanta Securities Co. Ltd. is the underwriter.
Proceeds will be used to pay off long-term liabilities and provide cash to meet medium- and long-term financing needs.
This is the first unsecured corporate bond issue in 2023 for Far Eastern.
Far Eastern New Century Corp is a Taipei, Taiwan-based company principally engaged in telecommunication businesses and chemical fiber products businesses.
| Issuer: | Far Eastern New Century Corp.
|
| Issue: | Corporate bonds
|
| Amount: | NT$3 billion
|
| Underwriter: | Yuanta Securities Co. Ltd.
|
| Trustee: | Bank SinoPac
|
| Price: | Par
|
| Announcement date: | Dec. 29
|
|
|
| Tranche A
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| Amount: | NT$700 million
|
| Tenor: | Three years
|
| Coupon: | 1.7%
|
| Price: | Par
|
| Yield: | 1.7%
|
|
|
| Tranche B
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| Amount: | NT$2.3 billion
|
| Tenor: | Five years
|
| Coupon: | 1.8%
|
| Price: | Par
|
| Yield: | 1.8%
|
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