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Wah Lee Industrial prices 0% three-year convertible bonds, up 18%
By Marisa Wong
Los Angeles, Aug. 16 – Wah Lee Industrial Corp. priced its third issue of domestic convertible bonds with a conversion price of NT$105.3 per share, according to a Taiwan Stock Exchange notice on Monday.
The conversion price represents 118% of the base share price of NT$89.2.
Wah Lee announced in July it planned to price up to NT$2 billion of convertible bonds with a 0% coupon and three-year maturity.
The bonds were to price at between 100% and 101% of par via Yuanta Securities Co., Ltd. as underwriter, as reported.
Proceeds will be used to repay bank borrowings.
The industrial materials company is based in Kaohsiung, Taiwan.
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