By Abigail W. Adams
Portland, Me., Jan. 20 – Flexium Interconnect Inc. priced $120 million of 0% convertible bonds due 2024 at 102 on Wednesday, according to a company announcement.
The conversion price for the bonds is NT$136.
The bonds will be converted in New Taiwan dollars at maturity according to a fixed exchange rate of US$1 to NT$27.995 and then converted back to U.S. dollars using the prevailing rate for payment.
The bonds are non-callable for two years and then subject to a 130% hurdle.
They are putable at par on the second anniversary of the issue date or upon a delisting or takeover event.
The bonds will trade on the Singapore Exchange Ltd.
Proceeds will be used for working capital.
Flexium is a Taiwan-based manufacturer of circuit boards.
| Issuer: | Flexium Interconnect Inc.
|
| Securities: | Convertible bonds
|
| Amount: | $120 million
|
| Maturity: | 2024
|
| Coupon: | 0%
|
| Price: | 102
|
| Conversion price: | NT$136
|
| Call options: | Non-callable for two years and then subject to a 130% hurdle
|
| Put options: | Year two or up on a delisting or takeover event
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Stock symbol: | TPE: 6269
|
| Stock price: | NT$113.50 at market close Jan. 20
|
| Market capitalization: | NT$ 39.08 billion
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