Taiwan’s First Commercial Bank plans $1.5 billion, NT$30 billion bonds

By Marisa Wong

Madison, Wis., Feb. 26 – First Financial Holding Co. Ltd. announced that subsidiary First Commercial Bank plans to issue $1.5 billion of unsecured financial bonds in 2015. The bank’s board of directors approved the proposed issuance on Thursday.

The board also approved NT$15 billion of financial bonds and NT$15 billion of bonds in foreign currencies for 2015, according to a separate Taiwan Stock Exchange announcement.

The bonds will be issued at par with maturities of no more than 30 years.

Funds will be used to stabilize the bank’s CAR ratio, enhance long-term capital and prepare for future business development.

The financial company is based in Taipei, Taiwan.

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