By Marisa Wong
Madison, Wis., June 21 - Yuanta Commercial Bank priced NT$2.45 billion of 1¾% subordinated financial debentures due June 27, 2018 at par, according to an announcement by Yuanta Financial Holding.
Yuanta Securities Corp., Grand Cathay Securities Corp., Capital Securities Corp., Jihsun Securities Corp. and Standard Chartered Bank Taipei branch are the underwriters.
This is the bank's first 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.
Proceeds will be used to improve capital adequacy ratios and to raise stable mid- to long-term funds.
The bonds will settle on June 27.
Formerly Asia Pacific Commercial Bank, Yuanta Commercial Bank is based in Taipei, Taiwan.
| Issuer: | Yuanta Commercial Bank
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$2.45 billion
|
| Maturity: | June 27, 2018
|
| Underwriters: | Yuanta Securities Corp., Grand Cathay Securities Corp., Capital Securities Corp., Jihsun Securities Corp., Standard Chartered Bank Taipei branch
|
| Coupon: | 1¾%
|
| Price: | Par of NT$10 million
|
| Yield: | 1¾%
|
| Announcement date: | June 21
|
| Settlement date: | June 27
|
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