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FINWIRES

Pegatron Corp Gets Board Nod to Raise Up To $500 Million Through Bond Issue

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Electronics manufacturer Pegatron Corp (TPE:4938) has received board approval to raise up to $500 million through the issuance of unsecured overseas convertible bonds, according to a Wednesday filing to the Taiwan stock exchange.

The bonds will be issued in denominations of $200,000 or in any multiple of $100,000 in excess thereof.

They will be converted to NT dollars at a fixed exchange rate, and the repayment, repurchase, and redemption of the Bonds will be made in US dollars equivalent to the NT dollar amount.

The funds will be used by the company to procure raw materials in foreign currencies.

The issue period is tentatively set at up to five years from the issue date, and the coupon rate has been tentatively set at 0% per annum.

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