Taiwan’s Hotai Motor subsidiary plans up to NT$2.8 billion bonds

By Marisa Wong

Morgantown, W.Va., Oct. 20 – Hotai Motor’s subsidiary, Hotai Finance Co., Ltd., plans to issue up to NT$2.8 billion of straight corporate bonds, according to a Taiwan Stock Exchange announcement.

The bonds will be sold at par with a fixed coupon. The maturity will not exceed five years.

The issuance is expected to provide financial flexibility, and proceeds will also be used to repay bank loans.

The automobile distributor is based in Taipei, Taiwan.

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