Delta Electronics price US$185 M. convertible bonds at 25% premium
Jul 14, 2003 Ι Industry In-Focus Ι Electronics and Computers Ι By STEVE SHEN, CENS
Taipei, July 14, 2003 (CENS)--Delta Electronics Inc. has priced its US$185 million in overseas convertible bonds at a conversion premium of 25%, company officials said late last week.
The conversion price is set at NT$55, a 25% premium over the stock's Thursday closing price of NT$44, said the officials. Delta's share price fell NT$1 to close at NT$43 Friday.
The five-year bond issue carries a negative 1.1% yield-to-put and yield-to-maturity and is redeemable at an average of around 95% before maturity.
Proceeds of the bonds will be used to finance the company's overseas procurement of materials, the officials said. Delta produces power supply units, transformers, and other electronics parts.
The conversion price is set at NT$55, a 25% premium over the stock's Thursday closing price of NT$44, said the officials. Delta's share price fell NT$1 to close at NT$43 Friday.
The five-year bond issue carries a negative 1.1% yield-to-put and yield-to-maturity and is redeemable at an average of around 95% before maturity.
Proceeds of the bonds will be used to finance the company's overseas procurement of materials, the officials said. Delta produces power supply units, transformers, and other electronics parts.
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