By Sarah Lizee
Olympia, Wash., May 19 – Yageo Corp. priced $180 million of 0% overseas convertible bonds due May 26, 2025 at par, according to a term sheet.
The conversion price is 130% of the reference price, which is NT$485.
The bonds are putable and callable at par after three years.
The proceeds will be used to purchase raw materials overseas and for capital expenditures.
Yageo is an electronic resistor manufacturing company based in New Taipei City, Taiwan.
| Issuer: | Yageo Corp.
|
| Issue: | Overseas convertible bonds
|
| Amount: | $180 million
|
| Maturity: | May 26, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Conversion price: | NT$485
|
| Put: | In whole or in part at par three years after issue date; at par if TPK stock is suspended from trading for 30 or more days or upon a change of control
|
| Call: | In whole after three years if closing share price is at least 125% of conversion price for 12 out of 30 consecutive trading days or if less than 10% principal amount of bonds remains outstanding, in both cases at par
|
| Pricing date: | May 18
|
| Settlement date: | May 26
|
| Stock symbol: | TPE: 2327
|
| Stock price: | NT$369 as of May 18 close
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