Yuen Chang Stainless plans NT$400 million of three-year convertibles

By Marisa Wong

Morgantown, W.Va., June 22 – Yuen Chang Stainless Steel Co. Ltd. plans to issue NT$400 million of three-year convertible corporate bonds, according to a Taiwan Stock Exchange notice.

The zero-coupon bonds will be sold at par.

Taishin Securities Co., Ltd. will be the underwriter.

Proceeds will be used to repay bank loans.

The public offering is subject to regulatory approval.

The stainless steel manufacturer is based in Kaohsiung, Taiwan.

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