Taiwan's Tung Ho Steel board OKs sale of NT$3.5 billion convertibles

By Susanna Moon

Chicago, April 14 - Tung Ho Steel Co. said its board approved NT$3.5 billion of domestic convertible bonds.

The offering will have a 0% coupon and a five-year maturity.

Proceeds will be used finance the company's Gwan-yin factory construction in Tauyen Country.

Fubon Securities will be the underwriter.

Tung Ho Steel is a Taipei, Taiwan-based mini-mill steelmaker.

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