Au Optronics makes tender offer to repurchase convertible bonds

AU Optronics Corp has issued a tender offer to repurchase its bonds from bondholders as part of its efforts to actively manage its balance sheet.

The purchase price for each US$100,000 principal amount of the tendered bonds is US$115,840, said the firm in an announcement to Singapore Exchange (SGX).

Au Optronics issued in October 2010 US$800 million zero coupon convertible bonds due 2015, of which there is US$287.5 million of aggregate principal amount outstanding. The bonds are listed on SGX.

The tender offer for the repurchase of the bonds starts at 5pm on Monday (Sept 7) and ends at 11pm on Sept 21.