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Eastech Holding to issue up to NT$350 million in convertibles
By Mary-Katherine Stinson
Lexington, Ky., Sept. 14 – Eastech Holding Ltd.’s board approved an issuance of a first secured three-year 0% convertible bond for up to NT$350 million in the domestic Chinese market, according to a notice Wednesday.
The bonds will have a face value of NT$100,000 per bond and will be issued through a public auction.
The actual amount raised will be determined by the auction, with the minimum base bid being set at 101.
Conversion measures, sellback measures and buyback measures will be announced later after approval.
Yuanta Commercial Bank will be the trustee.
KGI Securities Co., Ltd. is the underwriter.
China Trust Commercial Bank is the guarantor.
Proceeds will be used to repay bank loans.
Taipei City, Taiwan-based Eastech manufactures electronic products.
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