Taiwan’s Epistar could resort to equity or debt fundraising in the near future after it used up all its cash to buy back its $250 million overseas convertible bonds over the weekend.
The company, which manufactures light-emitting diode LED chips and wafers, was required to repurchase all the bonds as part of an agreement when it sold the bonds three years ago. According to the terms, bondholders were eligible to sell the five-year bonds back to the company at par from August 7 onwards.
In a company statement on Monday, Epistar said it had redeemed the bonds in full on the put date without specifying how...
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