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Taiwan Mobile plans up to $500 million of 0% euro convertible bonds
By Marisa Wong
Madison, Wis., July 28 – Taiwan Mobile Co., Ltd. plans to issue up to $500 million of euro convertible bonds, according to a Taiwan Stock Exchange announcement.
The company’s board of directors approved this first issue of euro convertible bonds on Monday.
The bonds are tentatively priced at par with a coupon of 0% and a maturity of five years.
The bonds will be offered publicly outside Taiwan.
UBS AG, Hong Kong Branch and J.P. Morgan Securities plc will be the joint bookrunners.
Proceeds will be used to repay debt.
The telecommunications company is based in Taipei, Taiwan.
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