Taiwan's Mosel Vitelic seeks to place domestic convertible bonds

By Marisa Wong

Madison, Wis., March 26 - Mosel Vitelic Inc. plans to issue domestic bonds convertible into a total of up to 200 million common shares.

The bonds will be issued at no less than 80% of par through a private placement.

The bonds will have a maturity of no more than seven years.

Proceeds will be used for capacity expansion, loan repayment, enriching working capital and supporting long-term development funding needs.

The proposed issuance is subject to shareholder approval.

The integrated circuit and solar cell manufacturer is based in Hsinchu, Taiwan.

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