Taiwan's TECO Electric plans up to $200 million five-year convertibles

By Marisa Wong

Madison, Wis., March 16 - TECO Electric and Machinery Co., Ltd. said it plans to issue up to $200 million of five-year overseas convertible bonds.

The bonds will be issued at par.

Proceeds of the offering will be used for overseas investment planning and financial structure adjustment.

Based in Taipei, Taiwan, TECO manufactures household appliances, industrial motors and smart cards.

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