By Marisa Wong
Madison, Wis., Aug. 17 - Yuanta Commercial Bank priced NT$2.35 billion of 1.85% subordinated financial debentures due Aug. 22, 2018 at par, according to an announcement by Yuanta Financial Holding.
Yuanta Securities Corp., Polaris Securities Corp., Cathay Securities Corp., KGI Securities Corp. and Mega Securities Corp. are the underwriters.
This is Yuanta's second 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.
Proceeds will be used to improve capital adequacy ratios and to raise stable mid- to long-term funds.
The bonds will settle on Monday.
Formerly Asia Pacific Commercial Bank, Yuanta Commercial Bank is based in Taipei, Taiwan.
| Issuer: | Yuanta Commercial Bank
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$2.35 billion
|
| Maturity: | Aug. 22, 2018
|
| Underwriters: | Yuanta Securities Corp., Polaris Securities Corp., Cathay Securities Corp., KGI Securities Corp. and Mega Securities Corp.
|
| Coupon: | 1.85%
|
| Price: | Par of NT$10 million
|
| Yield: | 1.85%
|
| Announcement date: | Aug. 17
|
| Settlement date: | Aug. 22
|
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