Powerchip to redeem 0% convertibles

New York, Jan. 8 - Powerchip Semiconductor Corp. said it will redeem its $90 million zero-coupon convertible bonds due 2007 on Feb. 6.

The Hsinchu, Taiwan, memory chip maker will pay par for the securities.

Holders can convert the bonds to stock up to Jan. 30 at a price of NT$11.14 per share. Powerchip stock closed at NT$18.80 on Thursday.

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