HUA YU LIEN Development (TPE:1436) board approved the issue of domestic unsecured convertible corporate bonds totaling up to NT$2 billion, according to a Monday Taiwan Exchange filing.
The debt securities will be issued at 101% of face value, with each bond valued at NT$100,000.
The debt securities will bear a 0% coupon rate, and carry a three-year term.
The residential construction company will use the proceeds to repay existing bank loans, it noted.
Shares slumped about 8% recently.
Price: $2736.00, Change: $-10, Percent Change: -0.37%
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