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BNP Paribas approved to issue international bonds in Taiwan.

Taipei, Nov. 7, 2012 (CENS) -- BNP Paribas Taipei has recently been approved by Financial Supervisory Commission (FSC) and the central bank here to float Australian dollar (AUD)-based international bonds, for the first issuance of international bonds seen since 2010.

Taiwan started to set up international bond market in 2006 and has so far seen only seven issuances in the market. This is the third time for BNP Paribas to issue international bonds in Taiwan.

In addition to BNP Paribas, other foreign banks here also interested in floating international bonds are Citibank, Deutsche Bank, and the Export-Import Bank of Korea, with Deutsche Bank completing two issuances before 2009.

Olivier Rousselet, head of BNP Paribas Taipei, disclosed that the total value of the bank's 3-year AUD-based corporate bonds is about 200 million Australian dollars and the interest rate is fixed at 4.3% per annum, lower than the interest rate of 6% and 5.75% for the bank's two previous issuances in 2007 and 2009, respectively.

The bank's AUD corporate bonds is rated AA- by Standard & Poor's, A2 by Moody's Investors Service, and A+ by Fitch Ratings. The underwriting banks include Mega International Commercial Bank, Bank of Taiwan, Chang Hwa Bank, and Shanghai Commercial & Savings Bank. And the minimum subscription amount of the bonds is set at 10,000 AUD.

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Author:Li, Judy
Publication:The Taiwan Economic News
Article Type:Brief article
Geographic Code:9TAIW
Date:Nov 7, 2012
Words:219
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