Delta Electronics price US$185 M. convertible bonds at 25% premium

Taipei, July 14, 2003 (CENS)--Delta Electronics Inc. has priced its US$185 million in overseas convertible bonds at a conversion premium of 25%, company officials said late last week.

The conversion price is set at NT$55, a 25% premium over the stock's Thursday closing price of NT$44, said the officials. Delta's share price fell NT$1 to close at NT$43 Friday.

The five-year bond issue carries a negative 1.1% yield-to-put and yield-to-maturity and is redeemable at an average of around 95% before maturity.

Proceeds of the bonds will be used to finance the company's overseas procurement of materials, the officials said. Delta produces power supply units, transformers, and other electronics parts.