TSMC to issue NT$15.6 billion in bonds to fund production expansion

Focus Taiwan
Date: 08/25/2020
By Chang Chien-chung,
Frances Huang and Joseph Yeh

CNA file photo

Taipei, Aug. 25 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, approved a plan Tuesday to issue NT$15.6 billion (US$530 million) in unsecured bonds to help fund its plans to expand production capacity.

In a public notice, TSMC said the bonds will comprise three tranches — NT$4.8 billion payable over five years, NT$8 billion over seven years and NT$2.8 billion over 10 years.

The interest rates will be 0.5 percent on the five-year bonds, 0.58 percent on the seven-year ones and 0.6 percent on the 10-year tranche, TSMC said.

The company did not disclose when and where the bonds will be sold but said the funds will be used to finance capacity expansion.    [FULL  STORY]

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