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FINWIRES

TS Financial Unit to Issue Up to NT$18 Billion Bonds

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TS Financial (TPE:2887) unit Shin Kong Life Insurance approved the issuance of up to NT$18 billion of cumulative subordinated bonds.

The securities have a tenure of at least 10 years, according to a Friday Taiwan Exchange filing.

The insurer may issue the bonds in New Taiwan dollars and/or an equivalent amount in foreign currency through its Singapore special purpose vehicle, depending on market conditions.

Proceeds will be used to increase shareholders' equity, strengthen its financial structure and improve its capital adequacy ratio.

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