Simpson Thacher Represents Initial Purchasers in US$400 Million Offering of Currency Linked Zero Coupon Exchangeable Bonds by United Microelectronics
07.07.21
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Simpson Thacher represented initial purchasers in connection with the offering of US$400 million Currency Linked Zero Coupon Exchangeable Bonds (the “Bonds”) due 2026 by United Microelectronics Corporation (“UMC”). The Bonds will be exchangeable for common shares of Novatek Microelectronics Corp., which are listed on the Taiwan Stock Exchange. The Bonds are listed on the Singapore Exchange Securities Trading Limited. Citigroup acted as the sole global coordinator and Citigroup and Nomura acted as joint bookrunners for the offering.
UMC is one of the world’s largest independent semiconductor foundries and a leader in semiconductor manufacturing process technologies. UMC is listed on both the New York Stock Exchange and the Taiwan Stock Exchange.
The Simpson Thacher team for this transaction included Yi Gao and Sarah Tang (Capital Markets).