Taiwan's First Commercial Bank Co. Ltd. plans to issue NT$7 billion of perpetual noncumulative subordinated financial bonds.
The bonds were priced with coupon rate of 2.36% and will be issued Sept. 25.
Proceeds from the issuance will be used to stabilize the bank's BIS ratio, enhance its long-term capital and prepare for future business developments.
Fubon Securities, Mega Securities, Masterlink Securities and President Securities are underwriters for the issuance.
First Commercial Bank is a unit of First Financial Holding Co. Ltd.
As of Sept. 10, US$1 was equivalent to NT$30.85.