Magnate Technology Co., Ltd. announced a financing transaction
August 18, 2016
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Magnate Technology Co., Ltd. (GTSM:4541) announced a private placement of domestic secured convertible corporate bonds on August 18, 2016. The company will issue 3rd series domestic secured convertible corporate bonds with par value of TWD 301,5000,000. Each 3rd series bonds will be issued at a price which will be 100% to 100.5% of the par value which is TWD 100,000 per bond. Each such bond will mature after three years from the date of issue. The company will issue 2,000 4th series domestic secured convertible corporate bonds at TWV 100,000 per bond for gross proceeds of TWD 200,000,000. The 4th series domestic secured convertible corporate bonds will be issued at par. Each such bond will mature after five years from the date of issue. The bonds issued will not carry any interest.
Magnate Technology Co., Ltd is a Taiwan-based company principally engaged in the processing, manufacture and sales of aircraft components, mechanical equipment components and general instrument components. The main products include aero engine casing, turbine hangers & nozzles, aircraft landing gear components, flight control actuation system, hydraulic system precision components products and aircraft body structure precision components products, as well as beverages, food and medicine sterile filling packaging machine, optoelectronic semiconductor equipment components, among others. The Company mainly provides its products in Taiwan, Japan and other regions.