TPE:3413

Foxsemicon Integrated Board OKs Up to NT$3.5 Billion Bond Issue

Foxsemicon Integrated Technology (TPE:3413) board approved plans to issue up to NT$3.5 billion in five-year unsecured convertible bonds, according to a Friday Taiwan Exchange filing.The bonds, with a 0% coupon rate, have a face value of NT$100,000 each and will be offered at 100% to 101% of face value.Proceeds will be used to replenish working capital, invest in its Thai subsidiary, UniEQ Integrated Technology, and repay bank loans.Shares of the semiconductor equipment manufacturer fell 1% in recent trade.