By Marisa Wong
Madison, Wis., Oct. 19 - Yuanta Commercial Bank priced NT$5.2 billion of subordinated financial debentures in two tranches, according to an announcement by Yuanta Financial Holding.
Both tranches priced at par. Tranche A, totaling NT$700 million, has a coupon of 1.8% and is due Oct. 27, 2018. Tranche B, totaling NT$4.5 billion, has a coupon of 1.95% and matures Oct. 27, 2021.
This is Yuanta's third issue of subordinated financial debentures in 2011. The bank said in February that it plans to issue a total of NT$17.5 billion of subordinated debentures this year. The bank issued NT$2.45 billion of 1¾% debentures in June and NT$2.35 billion of 1.85% debentures in August.
Proceeds will be used to improve capital adequacy ratios and to raise stable mid- to long-term funds.
The bonds will settle on Oct. 27.
Formerly Asia Pacific Commercial Bank, Yuanta Commercial Bank is based in Taipei, Taiwan.
| Issuer: | Yuanta Commercial Bank
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$5.2 billion
|
| Announcement date: | Oct. 19
|
| Settlement date: | Oct. 27
|
|
|
| Tranche A
|
| Amount: | NT$700 million
|
| Maturity: | Oct. 27, 2018
|
| Coupon: | 1.8%
|
| Price: | Par
|
| Yield: | 1.8%
|
|
|
| Tranche B
|
| Amount: | NT$4.5 billion
|
| Maturity: | Oct. 27, 2021
|
| Coupon: | 1.95%
|
| Price: | Par
|
| Yield: | 1.95%
|
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