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Steelmaker to list Formosa Bond on multiple exchanges

TAIPEI, Taiwan -- Steelworks company Yieh Phui Enterprise Co. (燁輝) yesterday gave a preview of its Formosa Bond with a 5-percent coupon rate which will be listed on exchanges in Taiwan and Singapore.

Issued through Yieh Phui's subsidiary Gold Development Holdings Limited, the Formosa Bonds will be listed on Taiwan's GreTai Securities Market (櫃買中心) and Singapore's SGX, marking the first Formosa Bond to be listed on multiple exchanges. Its 5-percent coupon rate is also the highest among Formosa Bonds.

GreTai Securities Market representatives said the bond represents efforts toward offering more diversified investment options to the investing public in Taiwan. The move is also designed to attract more international companies to issue Formosa Bonds in Taiwan and draw in more foreign investment capital.

The GreTai Securities Market added that Europe-based companies have expressed high levels of interest in issuing Formosa Bonds in Taiwan, and that it will strive toward bolstering ties with European bond issuers. The over-the-counter exchange also stated that it is in negotiations with UK-based bond issuers to collaborate in issuing renminbi-denominated bonds in Taiwan, with plans to see results in the second half of this year.

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