Taiwan’s Elite Material to issue NT$1.5 billion 0% convertible bonds

New York, March 16 – Elite Material Co. Ltd. said its board of directors approved an issue of NT$1.5 billion of 0% convertible bonds, according to a notice filed with the Taiwan Stock Exchange.

The convertibles will be issued at par via a public bookbuilding process and have a maturity of five years.

Proceeds will be used to repay bank borrowings and to increase working capital.

Elite Material is a laminator and provider of materials to the printed circuit board industry based in Taoyuan City, Taiwan.

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