Taiwan's Hon Hai Precision board OKs up to NT$18 billion of debentures

By Marisa Wong

Madison, Wis., March 27 - Hon Hai Precision Industry Co., Ltd. said its board of directors has approved the planned issuance of up to NT$18 billion of 2012 debentures.

The debentures will be priced at par and may be issued in multiple tranches.

The maturity and coupon have not yet been determined.

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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