Cathay Financial calls all zero-coupon convertible bonds due 2014

By Marisa Wong

Madison, Wis., Oct. 29 - Cathay Financial Holding Co., Ltd. gave notice that it will redeem in full its outstanding zero-coupon convertible bonds due 2014 on Nov. 29.

The redemption price will be $200,646.47 for each $200,000 principal amount.

Holders may convert their bonds through Nov. 28.

The conversion price is currently NT$35.51 but will be lowered to NT$33.26, effective Nov. 8.

The company's closing share price as of Oct. 29 was NT$46.45.

Bank of New York Mellon, London Branch is the paying agent for the redemption.

The Taipei, Taiwan-based company issued $254.4 million of the overseas convertible bonds in August 2012.

Cathay is a holding company for insurance, securities, banking and other financial institutions.

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