The private equity firm will buy six-year, zero-coupon convertible bonds, which will give it a stake of 10.2% in the company on conversion. The conversion price is set at NT$8.50 $0.26, a 4% premium to the NT$8.17 closing price of the shares on the Taiwan Stock Exchange on September 14. The bonds are puttable at year 1.5, 3, and 4.5 at 105.91%, 112.16%, 125.01% of the relevant redemption amount. Further, CPT has an option to buyback the bonds after 3 years at a pre-defined price, based on trading performance.
The investment is structured as a private...
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