Wah Lee Industrial to price up to NT$2 billion secured bonds

By Mary-Katherine Stinson

Lexington, Ky., Aug. 9 – Wah Lee Industrial Corp. is planning to price up to NT$2 billion of domestic secured bonds with a maturity of up to five years, according to a company release.

The bonds will price at par and will be secured by a bank guarantee.

The proceeds of the issue will be used to repay bank borrowings and fulfill mid- to long-term working capital needs.

There was no underwriter, trustee or paying agent listed.

The notice stated that the board gave full authority to the chairman to decide the relevant details, including the coupon rate which will be based on market conditions.

The company develops and supplies industrial materials from its base in Taiwan.

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