By Marisa Wong
Madison, Wis., May 19 - Foxconn (Far East) Ltd., a subsidiary of Hon Hai Precision Industry Co., Ltd., priced RMB 800 million of three-year corporate bonds with a coupon of 3¼% last Friday.
The bonds, which are guaranteed by Hon Hai, will be issued under Foxconn's medium-term note program.
Foxconn along with another Hon Hai subsidiary, Competition Team Technologies Ltd., established a $20 billion MTN program in September 2012. Under the program, Foxconn and Competition Team may from time to time issue foreign currency-denominated notes guaranteed by Hon Hai.
The parent company is a Tu-cheng, Taiwan, manufacturer of computer connectors, cable assemblies and enclosures.
Issuer: | Foxconn (Far East) Ltd.
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Guarantor: | Hon Hai Precision Industry Co., Ltd.
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Issue: | Medium-term corporate bonds
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Amount: | RMB 800 million
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Maturity: | Three years
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Coupon: | 3¼%
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Pricing date: | May 16
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