Delta Electronics Thailand shareholder plans $1.5 billion bond issue

Delta Electronics

15/09/2026 05:10

Sept 15 (Reuters) - Delta Electronics Thailand DELTA.BK said on Tuesday that its major shareholder, Delta Electronics Int'l (Singapore), is seeking to raise $1.5 billion through bonds exchangeable into shares of the Thai company. 
     
Here are the details:
The proposed bond issuance includes $500 million in bonds due in September 2027 and $1 billion in bonds due in September 2031, the company said.
The 2027 tranche carries an initial exchange price of 266.8 baht per share, representing a 15% premium to the reference price, while the 2031 tranche has an initial exchange price of 301.6 baht ($9.08) per share, a 30% premium.
The bonds will be exchangeable into existing Delta Electronics (Thailand) shares currently held by the Singapore-based shareholder, a unit of Taiwan-listed Delta Electronics Inc 2308.TW. The Singapore unit of Delta Electronics holds 42.85% of the company's shares, as per data compiled by LSEG.
If all exchange rights are exercised at the initial exchange prices, the bonds would be exchanged into about 172.1 million existing shares, equivalent to roughly 1.38% of Delta Electronics (Thailand)'s total issued shares.
The company added that the $1 billion 5-year bonds could be redeemed at 99.25% and 98.51% of the principal amount after 1.5 and 3 years, respectively, from the issuance date.
The proceeds from the bonds will strengthen working capital and support future business expansion.
     
($1 = 33.2300 baht)

(Reporting by Keshav Singh Chundawat in Bengaluru; Editing by Rashmi Aich)
((Keshav.singhchundawat@thomsonreuters.com))