Cathay lifts off with benchmark lower tier 2 bond

JPMorgan takes its second Taiwanese bank to overseas investors.

Cathay United has priced Taiwan's first ever offshore lower tier 2 dollar denominated bond, raising $500 million from a 15 non-call 10-year step up bond deal via sole lead manager JPMorgan. The deal was launched through Cathay's offshore branch in order to circumvent Taiwan's 20% withholding tax regulation on coupon payments.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media