By Marisa Wong
Morgantown, W.Va., Nov. 13 – Mega Financial Holding Co. announced that subsidiary Mega International Commercial Bank Co. Ltd. priced $45 million of 30-year zero-coupon senior financial debentures at par with a 4.85% internal rate of return.
After two years, the debentures will be callable annually at par plus the internal rate of return.
Proceeds from the non-underwritten offering will be used to diversify the bank’s funding resources and stabilize long-term working capital.
The Taipei-based issuer specializes in commercial and retail lending, venture capital investments, international trade finance, securities dealing, trust services and property/casualty insurance.
| Issuer: | Mega International Commercial Bank Co. Ltd.
|
| Issue: | Senior financial debentures, 2018 third issue
|
| Amount: | $45 million
|
| Maturity: | Nov. 28, 2048
|
| Underwriter: | None
|
| Coupon: | 0%
|
| Price: | Par
|
| IRR: | 4.85%
|
| Call option: | At par plus IRR every anniversary after two years
|
| Put option: | None
|
| Announcement date: | Nov. 13
|
| Settlement date: | Nov. 28
|
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