DELTA announced that its Singaporean parent company has issued US$1.5 billion in convertible bonds with conversion prices of 266.80 baht and 301.60 baht per share.

DELTA informed the Stock Exchange of Thailand that Delta Singapore, the major shareholder, has issued two tranches of interest-free, convertible foreign bonds totaling US$1.5 billion. The conversion prices are set at 266.80 baht and 301.60 baht per share. If fully exercised, the conversion would utilize approximately 172.09 million DELTA shares, or 1.38%, held by the company.

On September 15, 2569, Delta Electronics (Thailand) Public Company Limited (DELTA) informed the Stock Exchange of Thailand that Delta Electronics Int'l (Singapore) Pte. Ltd., a shareholder of DELTA, and subsidiaries of Delta Electronics Inc. plan to issue and offer for sale dual-tranche zero-coupon overseas exchangeable bonds totaling US$1,500 billion on or approximately September 21, 2569, to raise working capital and support business expansion.

The bonds are divided into two series :

• Tranche A Bonds, valued at US$500 million, with a one-year maturity, due for redemption on September 21, 2027.
• Tranche B Bonds, valued at US$1,000 billion with a 5-year maturity, are due for redemption on September 21, 2574.

Both sets of offerings can be converted into DELTA shares held by Delta Electronics Int'l (Singapore).

Tranche A Bonds have an initial conversion price of 266.80 baht per share, 15% higher than the reference price. Bondholders will receive an initial 24,856.8966 DELTA shares for a principal value of US$200,000. Meanwhile, Tranche B Bonds have an initial conversion price of 301.60 baht per share, 30% higher than the reference price, and bondholders will receive an initial 21,988.7931 shares for a principal value of US$200,000. The number of shares may change according to the terms and conditions of each bond series.

For Tranche B Bonds, bondholders also have the right to call for redemption of all or part of the bonds at 99.25% and 98.51% of the principal amount upon maturity of 1.5 years and 3 years from the issuance date, respectively.

DELTA stated that if the conversion rights of the bonds are exercised in full at the initial price, it would utilize approximately 172.09 million DELTA shares held by Delta Electronics Int'l (Singapore), representing approximately 1.38% of the total issued shares at the time of bond issuance. This amount may be subject to change according to the terms of the bonds.

However, this bond issuance will not affect the board structure, management, business management, policies, or operations of DELTA.

Read news related to both Thai and international stock markets here.