Asia Cement Corp (1102.TW) said its board of directors has approved the sale of US$250m of exchangeable bonds.
The underlying securities for the 5-year, zero-coupon debt instrument are Asia Cement’s holdings of common shares of Far Eastern Textile Ltd or U-Ming Marine Transport Corp, it said in a filing with the stock exchange.
Proceeds will be used to finance overseas procurement of materials and for domestic investments, it added. Published under Cement News