Taiwan's Chinatrust to sell up to NT$12 billion of bonds in 2012

By Marisa Wong

Madison, Wis., Nov. 28 - Chinatrust Financial Holding Co. announced that its board of directors approved the proposed issuance of up to NT$12 billion of subordinate corporate bonds in 2012.

The bonds are to have a maturity of at least seven years.

Proceeds will be used to redeem the company's NT$30 billion of class B preferred stock and to strengthen its capital and financial structure.

The financial holding company is based in Taipei, Taiwan.

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