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.