United Microelectronics to Issue $1.8 Billion Unsecured Overseas Convertible Bonds
MT Newswires Live
Oct 06
United Microelectronics (TPE:2303) plans to issue $1.8 billion of unsecured overseas convertible bonds, comprising $900 million each of Tranche A and Tranche B bonds, according to a Monday filing to the Taiwan stock exchange.
The bonds will be issued at par on Oct. 13 and carry a zero coupon rate. Tranche A will mature on Oct. 13, 2031, while Tranche B will mature on April 13, 2028.
Initial conversion prices have been set at NT$202.06 and NT$179.19 per share, respectively, based on premiums to United Microelectronics' Monday closing price of NT$152.5.
Proceeds will fund machinery, equipment purchases, and plant construction.
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