Asus 2008 Annual Report Download - page 109

105
ASUSTEK COMPUTER INC.
Notes to Non-Consolidated Financial Statements
(In thousands of New Taiwan dollars unless otherwise stated)
13. BONDS PAYABLE
(1) Bonds payable consist of the following:
2008/12/31
2007/12/31
(Adjusted)
Euro convertible bonds due 2009 (ECB I)
$1,518,279
$3,136,921
Add: Premium on bonds payable
63
3,268
Less: Compensatory interest receivable
(66,577)
(107,120)
Subtotal
1,451,765
3,033,069
Domestic convertible bonds
11,496,400
11,993,000
Less: Discount on bonds payable
(738,062)
(1,040,100)
Subtotal
10,758,338
10,952,900
Less: Bonds payable-current portion
(12,210,103)
-
Corporate bonds payable-net
$-
$13,985,969
(2) The Company issued the first Euro non-collateral convertible bonds (ECB I) on the
Luxembourg Stock Exchange on January 15, 2004 with a zero-coupon rate. The main
issuance terms of ECB I are as follows:
A. Principal amount: USD 320,000,000; Issue price: USD 321,600,000
B. Duration of Issuance: 2004/1/15-2009/1/15
C. Main redemption clauses:
(a) The Company has the right to redeem the ECB I in whole or in part at any time
on or after January 15, 2006 at a price equal to 100% of the unpaid principal
amount thereof if the Closing Price of the Common Shares (translated into US
dollars at the Prevailing Rate) on each of 20 consecutive Trading Days reach at
least 120% of the Conversion Price.
(b) The Company has the right to redeem the ECB I at any time at a price equal to
100% of the unpaid principal amount thereof if at least 95% in principal amount
of the ECB I has been redeemed, repurchased and cancelled, or converted.
(c) If, as a result of certain changes relating to the tax laws in the R.O.C. or such
other jurisdiction in which the Company has to pay extra interest expenditure, the
Company has the right to redeem the ECB I at any time at a price equal to 100%
of the unpaid principal amount thereof.