By Marisa Wong
Madison, Wis., March 9 – Cathay United Bank plans to issue $180 million of dollar-denominated senior financial debentures, according to a Taiwan Stock Exchange announcement.
The 30-year debentures will be issued at par with a fixed coupon of 0% and an internal rate of return of 4.2%.
This will be the bank’s first issue of debentures for 2015.
The bank said it will use proceeds to finance its medium- and long-term funding needs and to increase its funding sources through flexible fund management strategies.
Cathay United is a wholly owned subsidiary of Cathay Financial Holding Co., Ltd. Cathay Financial is a Taipei, Taiwan-based holding company for insurance, securities, banking and other financial institutions.
| Issuer: | Cathay United Bank
|
| Issue: | Senior financial debentures
|
| Amount: | $180 million
|
| Maturity: | 30 years
|
| Coupon: | 0%
|
| Price: | Par
|
| IRR: | 4.2%
|
| Call option: | Yes
|
| Announcement date: | March 9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
