Taiwan Bank issues Hong Kong dollar debt

United World Chinese Commercial Bank has become the first Taiwanese entity to issue debt in Hong Kong, raising HK$300 million through a 3 year floating rate certificates of deposit.

United World Chinese Commercial Bank has become the first Taiwanese issuer of Hong Kong dollar debt,  raising HK$300 million $38.5 million via a three-year, floating rate certificate of deposit FRCD. The issue will be priced at par with a coupon of 3-month HIBOR plus 30 basis points. UWCCB is rated A3 by Moody's and demand for the relatively small issue should be robust given that no other Taiwanese credits are available.

UWCCB is 30% owned...

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