United Microelectronics cuts conversion price on convertibles due 2020

By Marisa Wong

Morgantown, W.Va., July 12 – United Microelectronics Corp. announced it will lower the conversion price of its $600 million currency-linked zero-coupon convertible bonds due 2020.

The conversion price will be adjusted to NT$15.9895 per share from NT$16.7408 per share, effective July 19.

The adjustment is due to a cash dividend payable to shareholders of record on July 18.

Based in Taipei, Taiwan, United Microelectronics is a semiconductor foundry offering services for the manufacture of integrated circuits.

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