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Taiwan Business Bank to raise NT$12B in debt issue

Taiwan Business Bank Co. Ltd. plans to raise NT$12 billion through an issuance of subordinated financial debentures.

The lender will still determine the coupon rate of the five-year bonds, according to a May 9 stock exchange filing.

The bank will use the proceeds from the issue to enhance its financial structure.

As of May 9, US$1 was equivalent to NT$29.94.