D-Link 2014 Annual Report Download - page 57

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32
D-LINK CORPORATION AND SUBSIDIARIES
Notes to the consolidated financial statements
(Continued)
(l) Bonds payable
December 31,
2014
December 31,
2013
Convertible corporate bonds $ 2,000,000 2,000,000
Less: discount and unamortized issuance cost (63) (1,998)
Cumulative redeemed amount (1,885,700)
(1,885,700)
Balance of bonds payable
$ 114,237 112,302
Equity components:
Conversion options, included in capital surplus炼
stock options
$ 4,655
4,655
Expiry of conversion options, included in capital
surplus炼others
$ 76,799
76,799
2014 2013
Embedded derivative炼gains (losses) in call and put
options measured at fair value, included in other
gains and losses
$ -
8
Interest expense
$ 1,935
1,902
On January 12, 2010, the Company issued unsecured convertible corporate bonds of $2,000,000
thousand. The coupon rate is zero, and the bonds will mature after 5 years. The bonds started to trade
on January 13, 2010.
The unsecured convertible corporate bonds has matured on January 12, 2015 (5 years after the issuance
date) and ceased to trade on January 13, 2015. As of January 12, 2015, the bondholders did not
exercise the conversion options, and therefore, the Company repaid the bonds for cash at face value
amounting to $114,300 thousand based on article 6 of the conversion terms issued by the Company .
As of the report date, the payment has already been paid.
The issue terms for the unsecured convertible corporate bonds were as follows:
(1) Total issuance amount
The upper limit of the total principal amount of the bonds is two billion dollars. The par value of
the bonds is one hundred thousand dollars, and they are issued at 100% of par.
(2) Duration
January 12, 2010, to January 12, 2015.
(3) Coupon rate for the bonds is zero.
(4) Conversion period
The convertible corporate bonds may be converted into common shares of the Company on or
after February 13, 2010, and prior to January 2, 2015.