Holders come out in force for Epistar CB put

Epistar emptied its coffer after all holders of its $250 million convertible debt decided to sell the bonds back to the company.

Holders come out in force for Epistar CB put

Taiwan’s Epistar could resort to equity or debt fundraising in the near future after it used up all its cash to buy back its $250 million overseas convertible bonds over the weekend.

The company, which manufactures light-emitting diode LED chips and wafers, was required to repurchase all the bonds as part of an agreement when it sold the bonds three years ago. According to the terms, bondholders were eligible to sell the five-year bonds...

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