Fubon Financial's Singapore Unit Prices $350 Million Bonds; Shares Up 3%

MT Newswires

07/22

Fubon Financial's (TPE:2881) subsidiary, Fubon Life Singapore, priced $350 million worth of 15-year tier 2 unsecured subordinated bonds on July 21, according to a Tuesday filing with the Taiwan Exchange.

The bonds carry a fixed coupon rate of 5.87% per year and are fully guaranteed by Fubon Life Insurance.

Proceeds will be used to strengthen working capital and the company's financial and capital structure.

Shares of the financial holding company were up nearly 3% in Wednesday trading.

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