BNP Paribas issues Aussie-dollar bond in Taiwan
05 November 2012
News, Asia, Australia, Taiwan
By Asia Asset Management
BNP Paribas has obtained approval from the Central Bank of the Republic of China (Taiwan) and the Financial Supervisory Commission of Republic of China to issue Australian dollar-denominated foreign currency international bonds, the first Australian dollar bond offering by a foreign bank in Taiwan since 2010.
There have been seven issuances in the Formosa bond market since the platform was launched in 2006, this latest one being BNP Paribas’ third successful offering.
The Australian dollar-denominated bond issued by BNP Paribas is a three-year senior bond, fixed at an annual rate of 4.30% with the lowest subscription unit at A$10,000. The primary offering subscription period took place between October 8 and 23 via the joint underwriters – Mega International Commercial Bank, Bank of Taiwan, The Shanghai Commercial & Savings Bank and Chang Hwa Bank.
The firm said that market response to the issue was positive.
Olivier Rousselet, country manager for BNP Paribas in Taiwan, said "BNP Paribas is delighted to participate in the development of the debt capital markets in Taiwan. With a new issuance tailored to Taiwanese retail investors, BNP Paribas is keen to further promote the Formosa bond platform and bring other quality issuers to Taiwanese investors."
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