New Issue: Walsin prices $40 million 0% convertibles

New York, Dec. 22 - Walsin Technology Corp. said it priced $40 million of euro convertible bonds to yield 0% with an initial conversion price of NT$32.00.

The Taiwanese maker of passive electronic components will use proceeds to repay bank debt, for overseas investment and to buy raw materials.

Holders have dividend protection through a conversion ratio adjustment if the company distributes more than 15% of its paid-in capital as a cash dividend.

Issuer:	Walsin Technology Corp.
Issue:	Euro convertible bonds
Amount:	$40 million
Maturity:	5 years
Coupon:	0%
Price:	Par
Redemption price:	Par
Yield:	0%
Initial conversion price:	NT$32.00 (with fixed FX rate of $1 = NT$34.058)
Conversion price reset:	After 2, 3 and 4 years, if stock is trading below conversion price rate may be reset to 90.91% of market price (110% premium)
Call:	After 1 year at par subject to 130% hurdle
Put:	In years 3 and 4
Pricing date:	Dec. 22

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