By William Gullotti
Buffalo, N.Y., Jan. 5 – BizLink Holding Inc. priced $125 million of 0% convertible bonds due 2027 at par, according to a notice on Wednesday.
The bonds will be callable after three years at par plus a tentative gross yield of 1.5% per year if the closing price of the issuer’s common shares reach 130% of the early redemption total for 20 trading days in any consecutive 30-day trading period. The call option, with the same redemption amount, will also be available in the event that at least 90% of the bonds have been redeemed, converted or repurchased and canceled.
The bonds will be puttable after three years at par plus a tentative gross yield of 1.5% per year, with additional options that may be exercised at any time in the cases of delisting and change of control events.
UBS AG, Hong Kong Branch is the international lead underwriter with Yuanta Securities as local lead underwriter.
Bank of New York Mellon, London Branch is the trustee, principal paying agent and principal conversion agent.
The bonds are expected to be issued Jan. 12 and will be listed on the Singapore Exchange.
BizLink is a New Taipei City, Taiwan-based developer and manufacturer of products and components for tech industries.
| Issuer: | BizLink Holding Inc.
|
| Issue: | Fourth unsecured overseas convertible bonds
|
| Amount: | $125 million
|
| Maturity: | Jan. 12, 2027
|
| Underwriters: | UBS AG Hong Kong Branch, Yuanta Securities
|
| Trustee: | Bank of New York Mellon, London Branch
|
| Coupon: | 0%
|
| Yield: | 107.76 at maturity
|
| Calls: | After three years at par plus approximately 1.5% per year if the closing price of the issuer’s common shares reach 130% of the early redemption total for 20 trading days in any consecutive 30-day trading period; at par plus approximately 1.5% per year if at least 90% of the bonds have been redeemed, converted or repurchased and canceled
|
| Puts: | After three years at par plus approximately 1.5% per year
|
| Change of control: | At par plus approximately 1.5% per year
|
| Delisting: | At par plus approximately 1.5% per year
|
| Conversion price: | NT$300
|
| Pricing date: | Dec. 29
|
| Issue date: | Jan. 12
|
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