Taiwan's Fuhwa Financial plans to sells NT$5 billion of subordinated debt next year

By Reshmi Basu

New York, Dec. 22 - Fuhwa Financial Holdings said it has received approval from its board of directors to issue NT$5 billion of subordinated debt in 2006.

The issues are expected to bear tenors of five to 20 years and will price at par.

Proceeds from the sales will be used to strengthen the institution's financial structure and to maintain adequate capital ratios.

Fuhwa is a financial services institution based in Taipei, Taiwan.

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