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Shin Kong Life Insurance raises NT$6B in bond issue

Shin Kong Life Insurance Co. Ltd. issued NT$6 billion of unsecured cumulative subordinated corporate bonds.

The perpetual bonds carry a coupon rate of 3.50%, the company said June 29.

Proceeds of the issuance will be used to increase the insurer's qualified capital and enhance its financial structure.

Shin Kong Life Insurance is a unit of Shin Kong Financial Holding Co. Ltd.

As of June 29, US$1 was equivalent to NT$30.45.