By Rebecca Melvin
Concord, N.H., May 25 – Hua Nan Financial Holdings Co. Ltd. announced that subsidiary Hua Nan Commercial Bank priced NT$12 billion of 1.4% perpetual non-cumulative subordinated financial bonds at par.
The bonds will be issued on May 28, according to a Taiwan Stock Exchange notice.
The bonds will be callable five years and one month after issuance.
Proceeds will be used for long-term and stable funding as well as to improve the company’s capital structure.
The financial services company is based in Taipei, Taiwan.
| Issuer: | Hua Nan Commercial Bank
|
| Issue: | Perpetual non-cumulative subordinated financial bonds
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| Amount: | NT$12 billion
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| Maturity: | Perpetual
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| Coupon: | 1.4%
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| Price: | Par
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| Yield: | 1.4%
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| Call option: | After five years and one month
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| Announcement date: | May 25
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| Issue date: | May 28
|
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