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Delta Electronics Seeks $1.5 Billion Thai-Linked Bonds
x/delta-electronics
— 2d
Delta Electronics plans a US$1.5 billion zero-coupon, dual-tranche exchangeable bond issue via its Singapore unit, backed by Delta Electronics Thailand shares, with US$500 million due in 2027 at a 15% premium and US$1 billion due in 2031 at a 30% premium, to fund working capital and expansion. The notes can be exchanged into DET shares, with 2031 bonds offering a put option and both tranches carrying specific redemption terms, while the deal aims to minimize equity dilution for minority holders.
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