By Stephanie N. Rotondo
Seattle, Jan. 18 – Nanya Technology Corp. sold $500 million of 0% five-year overseas convertible bonds with a 1.75% yield and a 10% initial conversion premium on Tuesday, according to a company press release.
The deal was first announced Nov. 9.
The conversion rate is NT$52.47 per share.
Holders can put the issue on Jan. 24, 2020 at a yield to put of 1.75%.
The company said it will use proceeds for 20-nm process technology conversion.
Nanya manufactures and sells dynamic random access memory (DRAM) products. The company is based in Taoyuan City, Taiwan.
| Issuer: | Nanya Technology Corp.
|
| Securities: | Overseas convertible bonds
|
| Amount: | $500 million
|
| Maturity: | Jan. 24, 2022
|
| Coupon: | 0%
|
| Yield: | 1.75%
|
| Conversion premium: | 10%
|
| Conversion price: | NT$52.47
|
| Put options: | On Jan. 24, 2020 at a yield to put of 1.75%
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 24
|
| Stock symbol: | TWSE: 2408
|
| Stock price: | NT$47.70 as of Jan. 17 close
|
| Market capitalization: | NT$146.95 billion
|
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