Siliconware Precision eyes $500 million five-year euro convertibles

By Marisa Wong

Madison, Wis., Sept. 5 – Siliconware Precision Industries Ltd. plans to issue up to $500 million of euro convertible bonds, according to a Taiwan Stock Exchange announcement.

The issue price is tentatively set at par of $250,000, and the bonds are expected to have a coupon of 0% and a tenor of five years.

J.P. Morgan Securities plc will be the bookrunner, and Yuanta Securities Co., Ltd. will act as domestic financial adviser.

Proceeds will be used to procure raw materials denominated in foreign currencies and to repay long-term loans.

This will be the company’s fourth issue of euro convertibles. The company’s board of directors approved the proposed issuance on Friday.

The Taichung, Taiwan-based company focuses on semiconductor packaging and testing services.

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