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O-Bank may issue up to NT$2.8 billion of subordinated debentures
Chicago, May 3 – Taiwan’s O-Bank Co. Ltd. has board approval to issue up to NT$2.8 billion of subordinated debentures, according to a notice.
The issue price has some flexibility and will depend on market conditions.
In terms of tenor, the bank is looking at debentures with maturities at least five years out, except for perpetual non-cumulative subordinated debentures.
Interest may be either fixed or floating.
Proceeds will be used to finance the bank’s mid- or long-term funding needs and to support the BIS ratio.
The bank may issue the bonds in several tranches within one year of acquiring approval from FSC.
Formerly named Industrial Bank of Taiwan, O-Bank offers financial services and products and is based in Taipei, Taiwan.
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