Delta Electronics (Thailand) Public Company Limited, or DELTA, announced through the Stock Exchange of Thailand that Delta Electronics Int'l (Singapore) Pte. Ltd., a shareholder of the company and a subsidiary of Delta Electronics Inc., plans to issue and offer convertible bonds overseas of the non-interest-bearing type, in two tranches, with a total value of 1.5 billion US dollars, on or around September 21, 2026. The bonds can be converted into DELTA shares currently held by that shareholder, in order to increase working capital and support future business expansion. The first tranche is worth 500 million US dollars, with a redemption date of September 21, 2027, and an initial conversion price of 266.80 baht per share, 15% above the reference price. The second tranche is worth 1 billion US dollars, with a redemption date of September 21, 2032, and an initial conversion price of 301.60 baht per share, 30% above the reference price. Holders of the second tranche have the right to require the issuer to redeem all or part of the bonds at 99.25% and 98.51% of the principal amount upon reaching 1 year 6 months and 3 years from the bond issuance date, respectively. If both tranches of bonds are fully converted at the initial conversion prices, this would amount to approximately 172.09 million DELTA shares, or about 1.38% of all issued shares as of the bond issuance date. DELTA stated that the issuance and offering of such bonds will not affect the structure of the board of directors and executives, the business management structure, or the policies and operations of the company.
Delta Electronics (Thailand) Public Company LimitedParent shareholder issues $1.5B convertible bonds convertible into DELTA shares to raise working capital and fund expansion, a financing event with potential dilution but no operational change.
