President Securities' (TPE:2855) board approved plans to issue up to NT$5 billion of unsecured subordinated corporate bonds, according to a Tuesday Taiwan Exchange filing.
The bonds may be issued in one or more tranches with maturities of up to 10 years. Each bond will have a face value of NT$1 million, with coupon rates set by market conditions.
Proceeds will be used to strengthen the company's capital adequacy ratio and replenish working capital, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.