Powerchip brings convertible

With Deutsche Bank as lead manager, Powerchip Semiconductor priced its second ever capital markets transaction at the end of last week, raising $175 million from a five year, zero coupon, rolling put deal. Backed by an issue price of par, the deal has a conversion premium of 10.7% to Thursday's NT$27.6 close and is convertible into either common share's or the company's existing GDR at NT$30.