By Marisa Wong
Madison, Wis., Feb. 29 - Farglory Land Development Co., Ltd. said it priced NT$800 million of 0% secured corporate convertible bonds on Wednesday.
The initial conversion price has been set at NT$65 per share. The three-year bonds are convertible at anytime beginning one month after the issue date.
This is the company's fifth issue of corporate convertibles. As previously reported, the company is also planning to issue NT$1.2 billion of 0% five-year unsecured convertible bonds.
Proceeds will be used to repay debt.
The company said it plans to list the newly priced bonds on March 8.
Farglory develops and constructs commercial and residential buildings and is based in Taipei, Taiwan.
| Issuer: | Farglory Land Development Co., Ltd.
|
| Issue: | Secured corporate convertible bonds
|
| Amount: | NT$800 million
|
| Maturity: | Three years
|
| Coupon: | 0%
|
| Conversion price: | NT$65 per share
|
| Conversion period: | Anytime starting one month from the issue date
|
| Pricing date: | Feb. 29
|
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