TransAsia Airways plans up to NT$1.5 billion five-year convertibles

By Marisa Wong

Madison, Wis., Aug. 14 – TransAsia Airways Corp. plans to issue up to NT$1.5 billion of five-year convertible bonds. The company’s board of directors approved the proposed issuance on Monday, according to a Taiwan Stock Exchange notice.

The bonds will be issued at par through a book-building process, with the coupon to be set at pricing.

This will be the company’s second issue of domestic convertible bonds.

Proceeds will be used for working capital, to repay bank loans and to purchase fixed assets.

The airline is based in Taipei, Taiwan.

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