Mosel Vitelic plans to place overseas, domestic convertible bonds

By Marisa Wong

Morgantown, W.Va., Aug. 6 – Mosel Vitelic Inc. plans to issue overseas or domestic convertible bonds through a private placement, according to a Taiwan Stock Exchange announcement.

The bonds will have maturities of no more than seven years and will be offered at a price of at least 80% of par.

The number of common shares that the bonds can be converted into will be capped at 100 million.

Proceeds will be used for expansion, to repay loans, to enrich working capital and to support the company’s long-term development funding needs.

The proposed issuance was approved by the company’s board of directors but is still subject to shareholders’ approval.

The company is a Hsinchu, Taiwan-based provider of foundry services for the solar cell market and installs solar cells.

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