Casio Computer issues Ñ50 billion convertible

The Japanese blue-chip sets the conversion price at a 35% premium, attracting strong interest from investors.

On Tuesday evening, and after a rapid bookbuild of less than three hours, Casio Computer sold Ñ50 billion $476 million worth of convertible bonds in a Reg-S deal to European, offshore US and Asia-Pacific accounts. The proceeds are to be used to expand the company's highly profitable business abroad, which includes the famous G-Shock watch.

The deal had two joint bookrunners, JPMorgan and UBS, with Daiwa Securities SMBC Securities as co-manager.

The conversion price was set at Ñ1,952,...

To continue reading, please login or register for free

Click for more on: casio | convertible | jpmorgan

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...