Taiwan’s OFCO to issue NT$10 billion corporate bonds

By William Gullotti

Buffalo, N.Y., Nov. 10 – OFCO Industrial Corp. intends to issue NT$10 billion secured corporate bonds at par, according to a notice Wednesday.

According to the notice, the secured bonds would be the company’s first such issue in 2021 with a par value of NT$1 million.

Terms for the bank-secured bonds, such as tenor and coupon rate, will be determined based on market conditions.

According to the notice, issue dates, underwriters, bookrunners and other details have not been determined.

Proceeds from the bonds will be used to repay loans as well as for enrichment of working capital and investments.

The Taiwan-based company manufactures and markets a variety of bolts, screws, nuts, washers, and steel wire rods.

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