By Marisa Wong
Madison, Wis., Nov. 18 – Far Eastern New Century Corp. priced NT$2.2 billion of five-year bonds, according to a Taiwan Stock Exchange notice.
The bonds were priced at par with a fixed coupon of 1.47%.
This is Far Eastern’s second issue of corporate bonds for 2014. The company announced on March 19, 2014 that it planned to issue up to NT$8 billion of corporate bonds. The first tranche totaled NT$3.2 billion and priced at par with a coupon of 1.47%, as announced on Aug. 5.
Proceeds from the latest tranche will be used to repay short-term debt and to improve the company’s overall financial structure.
Far Eastern is a Taipei, Taiwan-based textile company.
| Issuer: | Far Eastern New Century Corp.
|
| Issue: | Corporate bonds
|
| Amount: | NT$2.2 billion
|
| Maturity: | Five years
|
| Coupon: | 1.47%
|
| Price: | Par
|
| Yield: | 1.47%
|
| Announcement date: | Nov. 18
|
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