Hon Hai Precision details NT$21.3 billion four-part note offering

By William Gullotti

Buffalo, N.Y., April 11 – Taiwan’s Hon Hai Precision Industry Co., Ltd. detailed the major terms of its upcoming NT$21.3 billion four-part offering of fixed-rate unsecured corporate bonds at par, according to a notice on Tuesday.

Each bond will have a NT$1 million face value and will be issued at par.

The four-part offering will be comprised of a three-year tranche with a 1˝% coupon, a five-year tranche with a 1.62% coupon, a seven-year tranche with a 1.68% coupon and a 10-year tranche with a 1.85% coupon.

MasterLink Securities Corp. is the lead underwriter for the offering.

Bank Sinopac Co., Ltd. is the trustee, with the bank’s Cheng Chung Branch serving as paying agent.

Proceeds will be used to repay short-term debt.

Hon Hai Precision is a Tu-cheng, Taiwan, manufacturer of computer connectors, cable assemblies and enclosures.

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