Taiwan Semiconductor Manufacturing Company (TSMC) announced on August 9 that its board has approved the issuance of up to NT$35 billion (US$1.21 billion) in unsecured straight corporate bonds in the domestic market to secure long-term, low fixed-cost funding.

TSMC's board also approved adjustments to the amounts of the respective business values to be transferred to the company's wholly-owned photovoltaic (PV) and LED lighting subsidiaries, TSMC said in a statement. The business spin-off was announced in April 2011, and has taken effect.

The value of the solar business to be transferred to TSMC Solar is determined to be NT$11.18 billion, and that of the solid state lighting business to be transferred to TSMC Solid State Lighting is determined to be NT$2.27 billion, according to TSMC.

TSMC shares closed at NT$63.30 on the Taiwan Stock Exchange (TSE) on August 9, down NT$1.90.

By: DocMemory
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