WT Microelectronics Raises $935 Million Through Share, Convertible Bond Issues; Shares Down 4%

WT Microelectronics Co (TPE:3036) has priced its $435 million global depositary receipts offering and a $500 million overseas unsecured convertible bond issuance, raising a total of about $935 million, according to a Tuesday filing to the Taiwan stock exchange.

The chipmakers' shares were down over 4% in Wednesday's trade.

The semiconductor distribution company priced 15 million global depositary receipts at $29 each, raising $435 million. Meanwhile, the $500 million zero-coupon convertible bonds are due in June 2027 and will be listed on the Singapore Exchange with a nine-month tenor.

The convertible bonds carry an initial conversion price of approximately NT$224.54 per share, representing a 22.5% premium over the placement price of the concurrent GDS offering, the chipmaker said.

The company plans to use the funds raised for the procurement of raw materials denominated in foreign currencies to support the company's business growth. A part of the proceeds will also be used to repay foreign-currency bank borrowings.

Dutch Telco KPN Issues EUR500 Million Hybrid Bond

Koninklijke KPN (KPN.AS) said Tuesday it issued 500 million euros of 4.625% subordinated hybrid bond, with a term of 5.25 years.The bond is first callable on Sept. 9, 2031, with a first reset date scheduled for Dec. 9, 2031.The Dutch telecommunications company earmarked proceeds from the issuance for general corporate expenditures and debt refinancing. It issued the bond amid an ongoing offer to fully redeem 500 million euros of perpetual hybrid capital securities with a first reset date of Dec. 21, 2027.

$KPN.AS

Aton Resources Agrees to $30 Million Loan From Its Majority Shareholder

Aton Resources (AAN.V) after trade Tuesday said it has entered into an agreement with shareholder OU Moonrider to borrow up to $30 million.The facility can be drawn in one or more advances and matures on Sept. 1, 2028, with an interest rate of 12% per year. Any unpaid amounts after maturity will carry 20% annual interest. The loan is unsecured and cannot be converted into equity securities of Aton. No bonus shares or warrants will be issued as part of the facility, the company added.Moonrider is Aton's controlling shareholder, owning about 66.4% of the company, according to the statement."The Aton board concluded that the facility is on reasonable commercial terms that are not less advantageous to the company than if the facility were obtained from a person dealing at arm's length with the company," the company said.The company added that it plans to use the funds for further exploration and development at its Hamama project, as well as general and administrative expenses.

$AAN.V

WT Microelectronics Raises $935 Million Through Share, Convertible Bond Issues; Shares Down 4%

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