EVA Airways sets conversion price for five-year convertible bonds

By Marisa Wong

Morgantown, W.Va., Oct. 19 – EVA Airways Corp. set the conversion price for its third issue domestic convertible bonds at NT$15.50 per share, which is a 4.24% premium over the base share price of NT$14.87.

The record date for the conversion price is Oct. 19, according to a Taiwan Stock Exchange notice.

As previously reported, the company’s board of directors had approved in August the proposed issuance of zero-coupon convertible bonds.

In September the company said it planned to issue up to NT$7 billion of five-year convertible bonds at a price of par to 100.5 with KGI Securities Co. Ltd. as underwriter.

Proceeds will be used to repay bank borrowings.

The airline is based in Taoyuan City, Taiwan.

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