Simpson Thacher Represents the Managers in a $300 Million Convertible Bond Offering by Taiwan High Speed Rail
05.29.07
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Simpson Thacher recently represented Deutsche Bank and several other managers in a $300 million offering by Taiwan High Speed Rail Corporation of Zero Coupon Convertible Bonds due 2012. Taiwan High Speed Rail owns and operates the recently opened 345 kilometer high speed (maximum speed of 305 kilometers per hour) rail along the Western corridor of Taiwan pursuant to a 35-year build-operate-transfer agreement with the government of Taiwan. The $15 billion High Speed Rail represents a significant and technically challenging infrastructure project for Taiwan. The transaction is believed to be the first fully marketed pre-IPO convertible bonds by a Taiwan issuer. The transaction is also a rare marketed convertible bond deal to finance a project.
The Simpson Thacher team for this transaction included Chris Lin, Gene Buttrill and Townshine Wu.