By Marisa Wong
Madison, Wis., March 21 - First Financial Holding Co. announced that its subsidiary First Commercial Bank priced NT$3.3 billion of subordinated financial bonds in two tranches of NT$1.65 billion each.
The tranche A bonds have a coupon of 1.65% and a maturity of seven years, and the tranche B bonds have a coupon of 1.72% and a maturity of 10 years.
The bonds priced at par.
Grand Cathay Securities Corp., Mega Securities Co., Bank Taiwan Securities Co., Yuanta Securities Co., KGI Securities Co. and Masterlink Securities Co. are the underwriters. Settlement will be March 30.
Proceeds will be used to stabilize the bank's BIS ratio, to enhance long-term capital and for future business use.
The bank is based in Taipei, Taiwan.
| Issuer: | First Commercial Bank
|
| Issue: | Subordinated financial bonds
|
| Amount: | NT$3.3 billion
|
| Underwriters: | Grand Cathay Securities Corp., Mega Securities Co., Bank Taiwan Securities Co., Yuanta Securities Co., KGI Securities Co. and Masterlink Securities Co.
|
| Announcement date: | March 21
|
| Settlement date: | March 30
|
|
|
| Tranche A
|
| Amount: | NT$1.65 million
|
| Maturity: | March 30, 2018
|
| Coupon: | 1.65%
|
| Price: | Par
|
| Yield: | 1.65%
|
|
|
| Tranche B
|
| Amount: | NT$1.65 million
|
| Maturity: | March 30, 2021
|
| Coupon: | 1.72%
|
| Price: | Par
|
| Yield: | 1.72%
|
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