By Marisa Wong
Madison, Wis., March 2 - Farglory Land Development Co., Ltd. said it priced NT$1.2 billion of 0% unsecured corporate convertible bonds on Friday.
The initial conversion price has been set at NT$65 per share. The five-year bonds are convertible at anytime beginning one month after the issue date.
This is the company's sixth issue of corporate convertibles. The company recently priced a fifth issue of NT$800 million of 0% three-year secured convertible bonds.
Proceeds will be used to repay debt.
The company said it plans to list the newly priced bonds on March 9.
Farglory develops and constructs commercial and residential buildings and is based in Taipei, Taiwan.
| Issuer: | Farglory Land Development Co., Ltd.
|
| Issue: | Unsecured corporate convertible bonds
|
| Amount: | NT$1.2 billion
|
| Maturity: | Five years
|
| Coupon: | 0%
|
| Conversion price: | NT$65 per share
|
| Conversion period: | Anytime starting one month from the issue date
|
| Pricing date: | March 2
|
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