Taiwan Cement resolves to issue up to $800 million of convertibles

Chicago, Sept. 27 – Taiwan Cement Corp.’s board of directors has approved the issuance of up to $800 million in an overseas convertible corporate bond, according to an announcement.

The company is planning the offering to consist of zero-coupon five-year notes.

Pricing will be based on market conditions.

The Taipei, Taiwan, cement company will use the proceeds to invest in subsidiaries or repay overseas subsidiaries’ bank loans and/or participate in green energy or energy storage-related investments or repay energy-related bank loans to support future business developments.

The bonds will be publicly offered.

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