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Cathay Financial Insurance Unit to Issue NT$16 Billion in Unsecured Subordinated Corporate Bonds

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Cathay Financial's (TPE:2882) insurance unit will issue NT$16 billion in unsecured cumulative subordinated corporate bonds, according to a Friday disclosure to the Taiwan Stock Exchange.

The bonds' A-note issuance has a value of NT$8.3 billion with a term of 10 years and a fixed annual rate of 3.70%, while its B notes have a value of NT$7.7 billion, a 3.85% fixed annual rate and a term of 15 years.

CTBC Bank is the trustee of the issuance, while Cathay Securities, Cathay United Bank, and KGI Securities are the underwriters.

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