UPDATE 1-Taiwan's China Motor plans $120 mln convertibles

Newswire

(Adds details, background) TAIPEI, Aug 26 (Reuters) - Taiwan's largest car producer, China Motor Corp , said on Tuesday it planned to issue up to US$120 million of convertible bonds, becoming the latest firm to take advantage of soaring stocks to raise funds overseas. Proceeds from the five-year, zero coupon rate bond will be used to expand production overseas, the company said in a statement to the Taiwan Stock Exchange. The statement said other details had not been finalised. The ...

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