By Marisa Wong
Madison, Wis., Oct. 22 – Yuanta Bank priced NT$1.7 billion of 1.85% subordinated financial debentures on Wednesday, according to an announcement by parent company Yuanta Financial Holding Co., Ltd.
The seven-year debentures priced at par.
This is the bank’s second 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.
As previously reported, Yuanta Bank priced NT$6.3 billion of debentures in two tranches, 1.8% debentures due 2021 and 2% debentures due 2024, on Aug. 28.
Proceeds from the latest non-underwritten offering will be used to improve capital adequacy ratios and to raise stable mid-to-long-term funds.
Settlement will occur on Oct. 29.
The financial services company is based in Taipei, Taiwan.
| Issuer: | Yuanta Bank
|
| Issue: | Subordinated financial debentures, second issue 2014
|
| Amount: | NT$1.7 billion
|
| Maturity: | Oct. 29, 2021
|
| Coupon: | 1.85%
|
| Price: | Par
|
| Yield: | 1.85%
|
| Underwriter: | None
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 29
|
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