United Microelectronics (TPE:2303) has received board approval to raise up to $1.8 billion through the issue of unsecured overseas convertible bonds, according to a Wednesday filing to the Taiwan stock exchange.
The semiconductor foundry will issue bonds of $200,000 each in two tranches with a tentative tenor of up to five years.
The issue price has been tentatively set at 100% of face value at a tentative coupon rate of 0%.
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