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TSMC board approves fundraising plan to issue NT$45 billion in bonds

TAIPEI -- Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chip maker, has indicated that it plans to issue NT$45 billion worth of unsecured straight corporate bonds.

At a board meeting Wednesday, the fundraising plan was approved in an effort to meet demand for expansion of the company's capacity.

In addition, the board voted unanimously to reelect Morris Chang as chairman and F.C. Tseng as vice chairman of TSMC.

In late April, TSMC raised its capital expenditure for 2012 to a range of US$8 billion-US$8.5 billion, an increase of more than 33 percent from the previously planned US$6 billion.

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