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Home > News > Industry News > ST to raise $1.5bn

ST to raise $1.5bn

  • Author:Ella Cai
  • Release on:2017-06-23
ST is to raise $1.5 billion in a convertible bond issue. The company will also redeem its 2019 convertible bonds and buy back shares.

The new bonds will mature in five and seven years. The five year bonds will not pay interest. The seven year bonds will pay interest of 0.5%.

Settlement is expected to be on or about July 7th.

ST will buy back about $300 million worth of its shares “to meet obligations from share award programmes.”