By Marisa Wong
Los Angeles, Oct. 1 – Fubon Financial Holding Co. announced that Fubon Hyundai Life Insurance Co. priced KRW 100 billion of 10-year subordinated corporate bonds with a coupon of 4¼%.
Five years after issuance, the interest rate resets to the 10-year Korean treasury bond yield plus a spread and the bonds are callable.
Proceeds will be used to strengthen the company’s financial structure and to meet its business plan requirements.
Fubon Financial is a financial services company based in Taipei, Taiwan.
| Issuer: | Fubon Hyundai Life Insurance Co.
|
| Issue: | Subordinated corporate bonds
|
| Amount: | KRW 100 billion
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| Maturity: | 10 years
|
| Coupon: | 4¼%; resets to the 10-year Korean treasury bond yield plus a spread after five years
|
| Call option: | At par after five years
|
| Announcement date: | Oct. 1
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