Taiwan’s Gloria Material to offer up to NT$5 billion convertibles

By William Gullotti

Buffalo, N.Y., May 18 – Gloria Material Technology Corp. resolved to issue up to NT$5 billion of domestic unsecured convertible bonds, according to a notice on Thursday.

With a declared face value per bond of NT$100,000, the 0% convertibles will be issued at prices between par and 101 for a period of three years.

The convertibles will be underwritten via book building, with conversion, call and put conditions to be determined. The company’s chairman will determine the trustee, underwriter and/or agent after receiving regulatory approval to issue the convertibles.

Proceeds will be used to enrich working capital.

The issuer is a specialty alloy manufacturer and is based in Tainan, Taiwan.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.