By Marisa Wong
Morgantown, W.Va., Aug. 25 – Yuanta Financial Holding Co., Ltd. announced that subsidiary Yuanta Bank priced a total of NT$8.55 billion of subordinated financial debentures.
The bank priced NT$5.55 billion of perpetual non-cumulative debentures at par to yield 4.1% and NT$3 billion of 10-year fixed-rate debentures at par to yield 2.1%.
These are the bank’s third and fourth issues of subordinated financial debentures for 2015, respectively. Yuanta Financial announced in April that its subsidiary plans to issue NT$10 billion of debentures this year.
Proceeds from the non-underwritten offerings 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, third and fourth issues for 2015
|
| Amount: | NT$8.55 billion
|
| Underwriter: | None
|
| Announcement date: | Aug. 25
|
| Settlement date: | Aug. 27
|
|
|
| Third issue
|
| Amount: | NT$5.55 billion
|
| Maturity: | Perpetual
|
| Coupon: | 4.1%
|
| Price: | Par
|
| Yield: | 4.1%
|
| Call option: | Conditionally after 10 years
|
|
|
| Fourth issue
|
| Amount: | NT$3 billion
|
| Maturity: | Aug. 27, 2025
|
| Coupon: | 2.1%
|
| Price: | Par
|
| Yield: | 2.1%
|
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