CH Biotech R&D (TPE:6534) board approved plans to issue NT$700 million of its first domestic secured convertible bonds, according to a Wednesday Taiwan Stock Exchange filing.
The three-year bonds will have a face value of NT$100,000 each and a zero coupon rate. The tentative issue price is set at 100% to 101% of face value.
The bonds will be secured by a bank guarantee and offered publicly through a book-building process.
CH Biotech said proceeds will be used to repay bank loans and strengthen working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.