The first Formosa Bond to be simultaneously listed in Taiwan and Singapore has completed pricing and will be issued on July 16 and 17. Formosa Bonds are bonds denominated in the Chinese currency but sold in Taiwan. It is the equivalent of Hong Kong’s dim sum bond.
Taiwanese steelmaker Yieh Phui Enterprise’s subsidiary Golden Developments Holdings is scheduled to issue its Formosa Bond on exchanges in Taiwan and Singapore on Thursday and Friday.
The bonds have a three-year maturity, a total face value of RMB 300 million, and a coupon rate of 5%, the highest rate among Formosa Bonds with the same maturity.