Chenbro Micom resolves to issue convertibles at minimum of 102

By William Gullotti

Buffalo, N.Y., Nov. 8 – Chenbro Micom Co., Ltd.’s board of directors resolved to issue up to NT$1 billion of 0% domestic unsecured convertible corporate bonds with a three-year tenor, according to a regulatory notice on Wednesday.

The intended sale is the company’s first convertible offering.

The bonds will be issued via a public offering through a competitive auction, with the issue price set at a minimum of 102% of the NT$100,000 face value.

Yuanta Securities Co., Ltd. is the underwriter and paying agent.

Offering proceeds will be used to repay bank loans.

The company is a rackmount server and storage chassis manufacturer.

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