By Marisa Wong
Madison, Wis., May 18 - First Financial Holding Co. announced that its subsidiary First Commercial Bank priced NT$3 billion of subordinated financial bonds in two tranches.
The tranche A bonds, totaling NT$2.5 billion, have a coupon of 1.65% and a maturity of seven years, and the tranche B bonds, totaling NT$500 million, have a coupon of 1.72% and a maturity of 10 years.
Both tranches priced at par.
Masterlink Securities Co., Yuanta Securities Co., Bank Taiwan Securities Co., Grand Cathay Securities Corp., KGI Securities Co. and Mega Securities Co. and are the underwriters. Settlement will be June 24.
This is the bank's second issue of subordinated financial bonds in 2011.
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 billion
|
| Underwriters: | Masterlink Securities Co., Yuanta Securities Co., Bank Taiwan Securities Co., Grand Cathay Securities Corp., KGI Securities Co., Mega Securities Co.
|
| Announcement date: | May 18
|
| Settlement date: | June 24
|
|
|
| Tranche A
|
| Amount: | NT$2.5 billion
|
| Maturity: | June 24, 2018
|
| Coupon: | 1.65%
|
| Price: | Par
|
| Yield: | 1.65%
|
|
|
| Tranche B
|
| Amount: | NT$500 million
|
| Maturity: | June 24, 2021
|
| Coupon: | 1.72%
|
| Price: | Par
|
| Yield: | 1.72%
|
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