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BULLETIN: Taiwan's Nanya Technology Corp. Convertible Note to Be Rated Feb 04
Standard & Poors, Feb 2004
Abstract
HONG KONG (Standard & Poor's) Feb. 6, 2004--Standard & Poor's Ratings Services said today that it was reviewing the terms and conditions of Nanya Technology Corp.'s recent convertible note issue and would assign an issue rating shortly. The size of the issue, including a US$20 million greenshoe option, is US$220 million. The zero coupon note is due in 2009 and will carry an option to sell after two years at a price of 100% of the principal amount. The proceeds will mainly be used for additional investments in Inotera Memories Inc., a joint venture with Infineon Technologies AG. Nanya Technology is a DRAM manufacturer and its largest shareholder is Nan Ya Plastics Corp., part of the Formosa Plastics Group....
Companies mentioned in this report are: Nanya Technology Corp.,Infineon Technologies AG,Nan Ya Plastics Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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