Home / Taiwan Business Briefs
Wed, May 15, 2002 - Page 18 News List

SinoPac to sell bonds


SinoPac Holdings Co (建華金控), a bank holding company, has hired UBS Warburg to arrange its planned sale of as much as US$350 million of bonds convertible into shares, said a banker involved in the transaction. Convertible bonds offer investors a fixed return when shares fall while capturing any rise in the underlying stock.

SinoPac, formed following the reorganization of Bank SinoPac (華信銀行) and National Securities Corp (建弘證券) into a holding company, earlier said it plans to sell the securities by June. The sale will be part-managed by National Securities, the banker said.

Cathay Financial Holding Co (國泰金控) on Monday offered US$700 million of convertible bonds, while Fubon Financial Holding Co (富邦金控) in April sold US$430 million of bonds convertible into its shares.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top