Chunghwa Picture Tubes launches CB

The TFT-LCD manufacturer launches a $100 million convertible as competitor Chi Mei Optoelectronics mulls its options.

In a bid to complete funding for its 4.5G fab, Chunghwa Picture Tubes CPT launched a $100 million convertible yesterday Tuesday via lead manager ABN AMRO. Terms are defensive in a reflection of a difficult market for Taiwanese tech deals and particularly CPT, which is viewed as one of the weakest manufacturers in the flat panel sector because of its continued reliance on increasingly outdated cathode ray tube production.

The lead is said to have gone out with...

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