To raise funds required for power development, the Board of Managing Directors of Taiwan Power Company (Taipower) passed a bill yesterday (17th), and is planning to issue a NT$12.8 billion tranche of first quarter unsecured ordinary corporate bonds of 2022 at the end of April. Taipower stated that to ensure stable power supply, the Company has to continue to develop diverse energy sources and electrical grids. The main purposes of this fundraising are for building another combined cycle system for natural gas at the Datan Power Plant, the project is for building a new combined cycle system for gas at the Taichung Power Plant, the 7th electric power transmission and switch project, the 1st northern Taiwan grid project, and so on.

    Taipower pointed out that the terms and conditions for the issuance of the corporate bonds are as follows:

1. Five-year unsecured ordinary corporate bonds: With an interest rate of 0.85%, a total of NT$5.2 billion will be issued. A fixed rate will be adopted and the interest rate will be paid once a year. One half of the principal will be repaid on the fourth and fifth anniversaries of the issue date each.
2. Seven-year unsecured ordinary corporate bonds: With an interest rate of 0.89%, a total of NT$5.6 billion will be issued. A fixed rate will be adopted with the interest rate paid once a year. The principal will be redeemed on the maturity date.
3. Ten-year unsecured ordinary corporate bonds: With an interest rate of 0.90%, a total of NT$2 billion will be issued. A fixed rate will be adopted with the interest rate paid once a year. The principal will be redeemed on the maturity date.
4. The issuance of the corporate bonds is to be confirmed after it is publicly announced and takes effect.

Spokesperson: Ting-Shu Chang, Professional General Manager

Tel No.: (02)2366-6271/0936-625-552

Email: u742433@taipower.com.tw

Point of Contact: Li-Chen Chen, Director of Finance Office
Tel No.: (02)2366-6810/0932-338-770
Email: u048292@taipower.com.tw