Taiwan's First Commercial Bank board OKs offshore renminbi bonds

By Marisa Wong

Madison, Wis., Aug. 16 - First Financial Holding Co. Ltd. announced that subsidiary First Commercial Bank plans to price CNH 3 billion of financial bonds. The bank's board of directors approved the proposed offshore-traded renminbi-denominated bonds on Friday.

First Commercial plans to issue the bonds at par with a maturity of no more than five years.

Funds will be used to enhance long-term capital and prepare for future business development.

The financial company is based in Taipei, Taiwan.

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