Taiwan Glass to issue up to $100 million 0% five-year convertibles

By Marisa Wong

Madison, Wis., Nov. 12 - Taiwan Glass Industry Corp. plans to issue up to $100 million of zero-coupon convertible bonds, according to a Taiwan Stock Exchange notice.

The bonds will be priced at par with a maturity of five years.

This will be the company's second issue of euro convertible bonds.

Proceeds will be used to procure raw materials overseas and to redeem the company's $300 million first-issue overseas convertible bonds due July 28, 2014.

The glass company is based in Taipei, Taiwan.

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