Taiwan's Gintech cancels plans to issue 0% domestic corporate bonds

By Marisa Wong

Madison, Wis., Oct. 15 - Gintech Energy Corp. said it has decided not to carry out its previously announced offer of 0% domestic corporate bonds due to dramatic fluctuations in the recent global capital market.

Gintech announced on March 14, 2012 that it planned to issue two tranches of corporate bonds - up to NT$1 billion of 41/2-year bonds in the first tranche and up to NT$700 million of five-year bonds in the second tranche - at par to raise funds to repay bank debt.

In July, Taiwan's Financial Supervisory Commission granted the company a three-month extension to issue the corporate bonds.

Based in Jhunan Township, Taiwan, Gintech designs, manufactures and markets multi-crystalline solar cells.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.