Corporate News : SEC to Acquire $US 25M Tax-Exempt Bond Duration of 30 years, Annual Interest Rate Set at 6.375%Seoul, Korea, April 19, 1997 Samsung Electronics Co., Ltd. announced today of its plans to issue US$25 million in tax exempt bonds, under the supervision of Goldman Sachs. Such measures were taken for the ongoing construction of the Samsung Austin Semiconductor Plant, which is scheduled to be opened around the second half of this year.
In addition, as a purpose to draw in more investments for the state of Texas, authorities of the state acknowledged Samsung to be exempt from taxes (U.S. federal and state capital gains tax) concerning the purchase of the bonds.
The duration of the bond will be 30 years, with the annual interest rate set for 6.375%. The exact time-frame concerning the bond`s launch however, needs to be negotiated.
Samsung Electronics Company Ltd., a US$ 19 billion flagship company of Korean-based Samsung Group, is a world leader in electronics, with operations in more than 60 countries.
The company develops, manufactures, and markets consumer electronics, industrial electronics and semiconductors.
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