By Marisa Wong
Madison, Wis., Sept. 26 - TPK Holding Co., Ltd. priced $200 million of 0% convertible bonds at par, according to a Taiwan Stock Exchange announcement.
The issue size may be increased to $250 million prior to Oct. 1, the issue date.
The five-year bonds are being offered publicly outside Taiwan. J.P. Morgan Securities plc and Nomura International (Hong Kong) Ltd. are the lead underwriters, and SinoPac Securities is the local lead underwriter.
The conversion price is NT$452.68 per share.
The bonds are putable and callable after three years.
Proceeds from the issuance will be used to purchase materials overseas.
This is the Taipei, Taiwan-based company's second issue of overseas convertible bonds, according to a previous announcement.
TPK makes capacitative touch technology products used in smartphones and tablets.
| Issuer: | TPK Holding Co., Ltd.
|
| Issue: | Overseas convertible bonds
|
| Amount: | $200 million (may be upsized to $250 million)
|
| Maturity: | Oct. 1, 2017
|
| Coupon: | 0%
|
| Price: | Par of $250,000
|
| Conversion price: | NT$452.68
|
| Put option: | In whole or in part at par three years after issue date, if TPK stock is suspended from trading for 30 or more days or upon a change of control
|
| Call option: | In whole at par after three years if closing share price is at least 130% of conversion price for 20 out of 30 consecutive trading days or if less than 10% principal amount of bonds remains outstanding
|
| Underwriters: | J.P. Morgan Securities plc and Nomura International (Hong Kong) Ltd. (lead), SinoPac Securities (local lead)
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 1
|
| Stock symbol: | Taiwan: 3673
|
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