Taiwan's Chinatrust Commercial to issue RMB 1 billion of 2.9% bonds

By Marisa Wong

Madison, Wis., Feb. 25 - Chinatrust Commercial Bank plans to issue up to RMB 1 billion of financial debentures in 2013, according to an announcement by Chinatrust Financial Holding Co., Ltd.

The debentures will have a maturity of three years and a fixed coupon of 2.9%.

The bank said it plans to issue the debentures at par, but exact pricing will depend on market conditions.

Proceeds will be used to support loan portfolios and to enhance medium- and long-term liquidity.

Chinatrust is a private bank based in Taipei, Taiwan.

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