Shin Kong completes CB

Taiwanese Financial Holding Company raises funds for acquisitions.

Shin Kong FHC broke what feels like an almost year-long drought of equity-linked issuance from Taiwan yesterday December 8. Under the lead management of house bank Morgan Stanley, the group raised $220 million from a five-year transaction with a two-year put option. There is also a $30 million greenshoe.

The deal represents just the second FIG deal from Taiwan this year following a $90 million issue for Fuhwa in January and the first CB from the country since a $381 million issue for UMC in late September. Year-to-date, there have been just eight $100 million plus issues from the Taiwan raising a total of $1.6 billion.

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