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Hon Hai Precision may issue NT$9 bln corporate bonds

Feb. 17, 2012 (China Knowledge) - Hon Hai Precision Industry Co, the world's largest contract electronics manufacturer by revenue and the parent co of Foxconn International Holdings Ltd <2038>, will issue NT$9 billion or around US$304 million worth of corporate bonds, citing two unnamed underwriters.

One of the two underwriters said Hon Hai Precision intends to issue the bonds next month. No more details were disclosed.

The Taiwanese company has yet commented on the news.

Hon Hai Precision, which produces iPhones and iPads for Apple Inc, has posted NT$274.66 billion or US$9.28 billion in unconsolidated sales for January, up 47.48% year on year, mainly boosted by strong sales of Apple's products.

The sales, however, was 10% less than NT$316.94 billion realized by the company last December.

Robust shipments of Apple's iPhones and iPads last month helped Hon Hai Precision offset the negative impact from the low season effect in PC and communication device industries, said analysts.

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