1/14/2025
Delta’s Subsidiary Delta International Holding Limited B.V. to Issue US$525,000,000 Overseas Exchangeable Bonds due 2030 to Facilitate Global Layout and Business Expansion
TAIPEI, January 14, 2025 — Delta Electronics, Inc. (hereinafter referred to as “Delta” or “Company”), announced today the approval by the board of directors of its subsidiary, Delta International Holding Limited B.V. (“DIH”), for the issuance of US$525,000,000 overseas exchangeable bonds (the “Bonds”) by DIH with the goal of enriching the working capital for enhancing the current business operations and facilitating future expansion. The Bonds are due January 21, 2030, each with a face value of US$200,000 (two hundred thousand US dollars) and a coupon rate of 0% per annum.
The Bonds will be exchangeable into shares of Delta Electronics (Thailand) Public Company Limited (“Delta Thailand”). Initial exchange price of the Bonds will be THB187.6 per share, which is 40% over the reference price. On the exercise of the exchange right, holders of the Bonds will initially be entitled to receive 37,086.3539 shares of Delta Thailand for each US$200,000 principal amount of the Bonds, subject to adjustment in the manner provided in the terms and conditions of the Bonds. The bondholders will also, inter alia, and subject to the terms and conditions of the Bonds, have the right to require DIH to redeem all or some of such bondholders’ bonds at 106.31% of their principal amount on the third anniversary of the issuance.
Delta is expanding its unique manufacturing, R&D, and sales/service capabilities in key regions around the world while also accelerating the development of next-generation IoT-based smart energy-saving solutions to foster key global megatrends, including AI, smart manufacturing, e-mobility and the energy transition. The aforementioned issuance of overseas exchangeable bonds is expected to help DIH optimize the efficiency of its working capital to support those business expansion endeavors.