Taiwan’s OFCO to issue NT$500 million 0% convertibles at 100.5

By William Gullotti

Buffalo, N.Y., March 24 – The board of directors of OFCO Industrial Corp. resolved to issue NT$500 million zero-coupon convertible corporate bonds at 100.5 over the next three years, according to a notice on Thursday.

According to the announcement, the public offering will be underwritten through book building.

Further details, such as call and put options and conversion conditions, have yet to be determined.

Proceeds from the bonds will be used to repay a bank loan as well as for replenishing operating capital.

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

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