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GlobalWafers has successfully priced its debut ECB offering in the amount of US$1 billion

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Hsinchu, Taiwan – May 25, 2021 (Taiwan time) — GlobalWafers Co., Ltd. (TPEx: 6488) (“GlobalWafers”) is pleased to announce that it has priced its debut unsecured euro convertible bond (“ECB” or the “Bonds”) offering of US$1 billion on May 24, 2021. The NT$-linked five-year zero-coupon ECB were priced with -0.25% yield per annum and will mature in 2026. Investors have the one-off option to put the Bonds at a yield-to-put of -0.25% per annum after 3 years since issuance. The Bonds can be converted into newly issued common shares of GlobalWafers at an initial conversion price of NT$1,040.20 per common share, representing a premium of 40.0% above the stock’s closing price of NT$743.00 on May 24, 2021. The Bonds will be listed on Singapore Exchange Limited. The use of proceeds is for the procurement of raw materials in foreign currencies.

Despite of the market volatility driven by the tension in the macro, COVID-19 and political situations worldwide, GlobalWafers captured the optimal pricing window to achieve favorable terms. Given GlobalWafers’ long-term and global development strategies, the offering was well received by investors and was more than 3.0 times covered. GlobalWafers capitalised on the strong investor feedback during the wall cross process and launched the transaction publicly on the same day.  The book was covered in less than 1-hour of launch and GlobalWafers successfully priced its first convertible bond offering at attractive terms.

This transaction is not only the largest ECB offering by a listed company in Taiwan since 2011, but also the largest NT$-linked ECB offering in history, which successfully attracted nearly 90 investors to participate and highlights global investors’ recognition of GlobalWafers outstanding performance and their ongoing support of its long-term strategy.

 

Nomura International (Hong Kong) Limited, DBS Bank Ltd. and UBS AG Hong Kong Branch acted as the joint bookrunners for the offering.

About GlobalWafers
Headquartered in Hsinchu, Taiwan, GlobalWafers is one of the five largest silicon wafer manufacturers in the world. Founded in 1981, it was the semiconductor business unit of SAS (Sino-American Silicon Products Inc.) and spun off as GlobalWafers Co., Ltd. in 2011. Specializing in silicon wafer manufacturing, product applications extend through power management, automotive, IT and MEMS. GlobalWafers is listed on the Taipei Exchange.

Disclaimer
This press release may contain forward-looking statements. These forward-looking statements are subject to risks and uncertainties. Consequently, actual results and experience may materially differ from those contained in any forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and GlobalWafers makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances occurring or existing after the date any forward-looking statement is made.