United Microelectronics seeks to raise $1.8 billion through a dual-tranche convertible bond issuance

According to the documents, United Microelectronics Corporation is seeking to raise US$1.8 billion through the issuance of dual-tranche convertible bonds. The terms show that the first tranche of US$900 million in bonds will mature in 2028 and offers a conversion premium of 17.50% to 22.50% based on Monday's closing price of NT$152.50. The second tranche of US$900 million in bonds will mature in 2031, with its conversion premium set at 32.50% to 37.50%. Both tranches are zero-coupon bonds.