Cathay Financial plans up to $800 million of overseas convertibles

By Marisa Wong

Madison, Wis., Aug. 11 - Cathay Financial Holdings announced that its board of directors has decided to issue up to $800 million of overseas convertible bonds.

The bonds will be issued at par and will have a maturity of three years.

Proceeds will be used for overseas investment planning and financial structure adjustment.

Cathay Financial is a Taipei, Taiwan-based holding company for insurance, securities, banking and other financial institutions.

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