Sercomm proposes up to NT$3 billion, $100 million convertible bonds

By Marisa Wong

Morgantown, W.Va., March 18 – Sercomm Corp. plans to issue up to NT$3 billion of domestic convertible bonds or up to $100 million of overseas convertible bonds, according to a Taiwan Stock Exchange notice.

The exact issue size of the private placement will depend on market conditions.

Proceeds will be used to enrich working capital, to repay bank loans, to purchase materials or to support the company’s long-term development funding needs.

The Taipei, Taiwan-based company makes broadband equipment.

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