Looking at the terms that doesnÆt seem too surprising, and CB specialists say the bonds were clearly priced to go with a low conversion premium range of 7% to 13%, a 1.5-year put and four potential resets down to a floor of 80%.
However, sources close to the deal pointed to the fact that the company is still loss-making û it reported a record shortfall of NT$13.9 billion $430 million in 2006 - and also in breach of several covenants related to its...
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