Taiwan’s Prince Housing cancels plans to issue convertible bonds

By Marisa Wong

Morgantown, W.Va., Aug. 3 – Prince Housing & Development Corp.’s board of directors has decided to cancel a previously proposed issuance of convertible bonds, according to a Taiwan Stock Exchange notice.

In 2011 the board had announced plans to issue a tranche of domestic secured convertible bonds and a tranche of unsecured convertible corporate bonds. The size of each tranche was to be NT$1 billion to NT$1.5 billion.

The board has decided not to issue the bonds after evaluating operating conditions, funding and bank loans and the bond market.

The housing construction and real estate development company is based in Taipei, Taiwan.

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