Taiwan’s Fubon Financial plans up to NT$18 billion subordinated notes

By William Gullotti

Buffalo, N.Y., Dec. 22 – Fubon Financial Holding Co., on behalf of Taipei Fubon Bank, announced plans to issue up to NT$18 billion of perpetual non-cumulative and long-term subordinated financial debentures, according to a regulatory notice on Wednesday.

The planned issuances will be divided in two parts, up to NT$11 billion perpetuals and up to NT$7 billion debentures. Pricing, in each case, is set at par.

The debentures will have a tenor of no less than five years.

Proceeds are intended for meeting mid- or long-term funding needs, raising capital adequacy ratios and strengthening the bank’s asset liability structure.

Further details were not yet disclosed.

Fubon is a financial services company based in Taipei, Taiwan.

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