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Taiwan High Speed Rail calls remaining 0% convertible bonds due 2012
New York, Dec. 22 - Taiwan High Speed Rail Corp. said that it will exercise the clean up call for its outstanding zero-coupon convertible bonds due 2012.
The remaining $26,318,000 of the securities will be redeemed on Jan. 27 at $1,313.15 per $1,000 principal amount.
Holders may convert the notes at a price of NT$10 per share. Taiwan High Speed Rail's stock closed at NT$5.01 on Dec. 16.
The call is exercisable because more than 90% of the original $300 million of the convertibles has been redeemed, repurchase, cancelled or converted.
The Taipei, Taiwan, company develops and operates the high-speed railway system in Taiwan.
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