Fubon prepares record breaking ECB

Fubon Financial Holdings is planning to stamp its mark as Taiwan''s most dynamic private sector entity with a clever and innovative equity-linked offering.

Following a domestic filing for an issue size of up to $400 million, launch is expected to take place by the end of next week under the dual lead of Credit Suisse First Boston and Salomon Smith Barney. Should the full amount be raised, the transaction will represent the largest ever from the Island Republic and will be similar in structure to a recent and highly successful $302 million benchmark deal from UMC, currently the second largest on record.

Both issues are backed by Treasury shares rather than common stock and in Fubon's case the structure has been devised as a way for the company to finally unwind the cross share holdings, which...

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