Goldman Sachs prices 30-year, $974 mln bond in Taiwan - sources

TAIPEI Wed Aug 27, 2014 5:05am EDT

TAIPEI Aug 27 (Reuters) - Goldman Sachs has priced its 30-year, $974 million U.S. dollar-denominated bond in Taiwan, two people familiar with the issue said Wednesday.

The zero coupon bond was priced with an internal rate of return of 4.96 percent, the sources said.

The latest dollar bond offering in Taiwan is the biggest so far from a single issuer, highlighting the appetite among Taiwan's insurance companies, which were recently allowed to invest more in long-term foreign currency debt issued locally.

Goldman Sachs' offering brings the total U.S. dollar bond issuance on the island in the past two months to over $5 billion.

Domestic regulators relaxed rules in June to allow local insurance companies to invest in foreign currency debt issued in Taiwan but not count it toward their quota for overseas investment.

The bond will list on the GreTai Securities Market, Taiwan's over-the-counter exchange. (Reporting By Miaojung Lin; Editing by Simon Cameron-Moore)

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