Friday, March 07, 2008

Taiwan Power to auction NTD10 bln bonds next week

Taiwan Power Company (Taipower) plans to sell NTD10 billion (RMB 231.1 million) worth of bonds on Mar. 12 through an auction, a Taiwan newspaper said.

The proposed issuance of bonds include NTD4 billion 5-year bonds, NTD3 billion 7-year bonds and NTD3 billion 10-year bonds, among which, the yield of the 5-year type is estimated to be about 2.6%, the newspaper said, and the overall size might be adjusted by 20% in accordance with market demand.

The government-owned company is a dominator in Taiwan's electric power sector, serving around 11.5 million industrial, commercial and residential customers with a generating capacity of more than 36,120 MW.

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