By Marisa Wong
Madison, Wis., Aug. 28 – Yuanta Financial Holding Co., Ltd. announced that subsidiary Yuanta Bank priced NT$6.3 billion of fixed-rate subordinated financial debentures in two tranches.
Tranche A, totaling NT$1.6 billion, consists of 1.8% seven-year debentures, and tranche B, totaling NT$4.7 billion, consists of 2% 10-year debentures.
Both tranches priced at par.
This is the bank’s first issue of subordinated financial debentures for 2014. Yuanta Financial announced in May that its subsidiary planned to issue NT$8 billion of debentures this year.
Proceeds from the non-underwritten offering will be used to improve capital adequacy ratios and to raise stable mid-to-long-term funds.
The financial services company is based in Taipei, Taiwan.
| Issuer: | Yuanta Bank
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$6.3 billion
|
| Underwriter: | None
|
| Announcement date: | Aug. 28
|
| Settlement date: | Sept. 4
|
|
|
| Tranche A
|
| Amount: | NT$1.6 billion
|
| Maturity: | Sept. 4, 2021
|
| Coupon: | 1.8%
|
| Price: | Par
|
| Yield: | 1.8%
|
|
|
| Tranche B
|
| Amount: | NT$4.7 billion
|
| Maturity: | Sept. 4, 2024
|
| Coupon: | 2%
|
| Price: | Par
|
| Yield: | 2%
|
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