Powerchip prepares CB

The first of the Taiwanese DRAM manufacturers returns to the international capital markets with a convertible bond.

Jackie Horne

December 01, 2002

A $90 million convertible bond for Powerchip Semiconductor Corp (PSC) is likely to be launched today following the completion of pre-marketing last week. Investors say that lead manager Nomura has been canvassing them with a highly defensive structure that offers a leveraged equity play on a turnaround in DRAM prices.

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