By Marisa Wong
Madison, Wis., April 20 - Far Eastern New Century Corp. said it issued NT$3.2 billion of five-year bonds.
The bonds were issued at par with a coupon of 1.35%.
The company announced last month that it planned to issue up to NT$12 billion of corporate bonds.
Proceeds will be used to repay short-term bank loans and to strengthen the company's financial structure.
Far Eastern is a Taipei, Taiwan-based textile company.
Issuer: | Far Eastern New Century Corp.
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Issue: | Corporate bonds
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Amount: | NT$3.2 billion
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Maturity: | Five years
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Coupon: | 1.35%
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Price: | Par
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Yield: | 1.35%
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Announcement date: | April 20
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