By Marisa Wong
Morgantown, W.Va., Jan. 29 – Yuanta Bank priced NT$5 billion of 1.8% subordinated financial debentures on Friday, according to an announcement by parent company Yuanta Financial Holding Co., Ltd.
The 10-year debentures were priced at par.
The debentures are conditionally callable after five years.
This is the bank’s first issue of subordinated financial debentures for 2016.
Proceeds from the non-underwritten offering will be used to improve capital adequacy ratios and to raise stable mid-to-long-term funds.
Settlement will occur on Feb. 23.
The financial services company is based in Taipei, Taiwan.
| Issuer: | Yuanta Bank
|
| Issue: | Subordinated financial debentures, first issue 2016
|
| Amount: | NT$5 billion
|
| Maturity: | Feb. 23, 2026
|
| Underwriter: | None
|
| Coupon: | 1.8%
|
| Price: | Par
|
| Yield: | 1.8%
|
| Call option: | Conditionally after five years
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 23
|
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