Jinan Acetate has board approval for domestic convertible bonds

Chicago, March 9 – Jinan Acetate Chemical Co., Ltd. said it has board approval to issue NT$500 million domestic convertible bonds, according to an announcement.

This will be the third such issue for the company.

The five-year 0% bonds will be publicly auctioned, with a minimum price of 101.

Proceeds will be used to repay bank loans and the first issue of convertible bonds.

The underwriter will be chosen by the chairman.

Based in the Shandong Province of China, the issuer manufactures quality cellulose acetate tow.

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