Fubon Financial Unit to Issue Bonds Worth NT$20 Billion; Shares Rise 5%
MT Newswires05-26 12:47
Fubon Financial (TPE:2881) unit Fubon Life Singapore will issue cumulative subordinated corporate bonds through a public offering worth NT$20 billion, according to a Monday Taiwan Exchange filing.
Shares of Fubon Financial gained about 5% in recent trade.
The debt securities, which may be issued in single or multiple tranches, will carry a maturity period of not less than 10 years.
Proceeds from the offering will be utilized to strengthen Fubon Life's financial structure, enhance its capital adequacy ratio, and bolster working capital. Fubon Life also plans to apply for the listing and trading of the bonds on the Singapore Exchange.
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