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United Microelectronics calls all exchangeable bonds tied to Novatek
By Marisa Wong
Madison, Wis., June 21 - United Microelectronics Corp. gave notice that it will redeem all of its outstanding zero-coupon bonds due 2014 exchangeable for common shares of Novatek Microelectronics Corp., Ltd.
The bonds will be redeemed on July 22 at a price of $98,194.771 for each $100,000 bond.
United Microelectronics issued $80 million of the exchangeable bonds in December 2009. As of June 20, the outstanding principal amount of the bonds is $3.3 million.
The current exchange price is $91.1045. Novatek's shares closed at NT$137 on Thursday.
The redemption agent is Citibank, NA, London Branch.
Based in Taipei, Taiwan, United Microelectronics makes process integrated circuits for the semiconductor industry.
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