Taiwan Mobile scraps plans for $500 million 0% euro convertible bonds

By Marisa Wong

Madison, Wis., April 30 – Taiwan Mobile Co., Ltd. canceled its planned issuance of euro convertible bonds on Thursday after taking its “comprehensive planning” into consideration, according to a Taiwan Stock Exchange announcement.

The company announced in July 2014 that it planned to issue up to $500 million of 0% five-year euro convertible bonds.

The bonds were to be offered publicly outside Taiwan.

UBS AG, Hong Kong Branch and J.P. Morgan Securities plc were previously mandated as joint bookrunners.

Proceeds were earmarked for debt repayment.

The telecommunications company is based in Taipei, Taiwan.

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