By Marisa Wong
Los Angeles, Sept. 6 – Fubon Financial Holding Co. announced that Fubon Hyundai Life Insurance Co. priced KRW 50 billion of 10-year subordinated corporate bonds at par with a coupon of 4.3%.
The bonds have face values of KRW 10 billion, KRW 5 billion, KRW 2 billion and KRW 1 billion.
Five years after issuance, the interest rate resets to the 10-year Korean treasury bond yield plus a spread.
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.
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Issue: | Subordinated corporate bonds
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Amount: | KRW 50 billion
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Maturity: | 10 years
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Coupon: | 4.3%; resets to the 10-year Korean treasury bond yield plus a spread after five years
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Price: | Par
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Call option: | At par after five years
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Announcement date: | Sept. 6
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