By Marisa Wong
Madison, Wis., March 4 - Taiwan Glass Industry Corp. announced it priced $100 million of 0% five-year convertible bonds at par, according to a Taiwan Stock Exchange notice.
The conversion price is NT$35.50 per share, with the U.S. dollar per New Taiwan dollar exchange rate fixed at 30.317.
The notes will be redeemed at maturity at 101.
The bonds are putable in whole or in part 30 months after the issue date and provisionally callable beginning 30 months after the issue date. The early redemption price is 101.
This is the company's second issue of euro convertible bonds, as announced in November.
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.
Settlement is slated for March 10.
The glass company is based in Taipei, Taiwan.
| Issuer: | Taiwan Glass Industry Corp.
|
| Issue: | Convertible bonds, second issue
|
| Amount: | $100 million
|
| Maturity: | March 10, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 0%
|
| Conversion price: | NT$35.50
|
| Redemption at maturity: | At 101
|
| Call option: | In whole or in part at 101 beginning 30 months after issuance at 125% hurdle; clean-up call
|
| Put option: | In whole or in part at 101 on date 30 months after issuance; upon delisting or change of control
|
| Pricing date: | March 3
|
| Settlement date: | March 10
|
| Stock symbol: | Taiwan: 1802
|
| Stock price: | NT$29.05 at close March 3
|
| Market capitalization: | NT$67.54 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
