Summary · why it matters
Delta Electronics (Thailand) Public Company Limited, or DELTA, informed the Stock Exchange of Thailand that its major shareholder subsidiary Delta Electronics Int'l (Singapore) Pte. Ltd., a subsidiary of Delta Electronics Inc., plans to issue and offer offshore zero-coupon convertible bonds with a total value of $1.5 billion, around September 21, 2026, to increase working capital and support long-term business expansion. The offshore convertible bonds are divided into two tranches. The first, Tranche A Bonds, worth $500 million, matures on September 21, 2027, and the second, Tranche B Bonds, worth $1 billion, matures on September 21, 2031. The initial conversion price of the Tranche A Bonds is 266.80 baht per share, 15 percent above the reference price, while the Tranche B Bonds are at 301.60 baht per share, 30 percent above the reference price. Holders of the Tranche B Bonds have the right to require the issuer to redeem them at 99.25 percent and 98.51 percent of the principal amount upon reaching 1.5 years and 3 years from the bond issuance date, respectively. If the conversion right is fully exercised at the initial conversion price, the bonds will convert into approximately 172,086,206 ordinary shares of DELTA held by Delta Electronics Int'l (Singapore) Pte. Ltd., or 1.38 percent of the company's total issued and paid-up shares as of the bond issuance date. The company confirmed that the transaction will not affect its board structure, management, administrative structure, policies, or business operations in any way.
Delta Electronics (Thailand) Public Company Limited
Delta Electronics Inc