Taiwan's Taipei Yuanta Bank plans NT$5 billion of debentures in 2010

By Lisa Kerner

Charlotte, N.C., March 4 - Yuanta Financial Holding Co., Ltd., on behalf of Yuanta Commercial Bank Co., Ltd., announced it will issue NT$5 billion of subordinated financial debentures in 2010.

The issue price, issue period and face value have yet to be decided, and the coupon will be based on market conditions and the funds position of Yuanta Bank, according to a Yuanta Financial statement.

The bank's board of directors approved the offering on Thursday.

Proceeds will be used to improve capital adequacy ratios and raise stable mid- to long-term funds, the company said.

Yuanta Commercial Bank is based in Taipei, Taiwan.

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