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UMC issues NT$10 bln in bonds

May. 10, 2012 (China Knowledge) - United Microelectronics Corp, the world's second-largest contract chipmaker after Taiwan Semiconductor Manufacturing Co, announced today that it has issued NT$10 billion of bonds.

The company said that it floated NT$7.5 billion in five-year bonds with a coupon rate of 1.43% and NT$2.5 billion in seven-year bonds with a coupon rate of 1.63%.

The company said earlier that its net profit plunged 70% year on year to NT$1.34 billion in the first three months of this year, due to weak demand for electronics products amid slowing global economy.

The company's revenue was NT$23.77 billion in the first quarter, down 15% from NT$23.77 billion in the same period of 2011. UMC expected its wafer shipments to grow 15% in the second quarter.

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