Hong Kong property company brings first Asian CB this year

Far East Consortium raises HK$800 million from a Hong Kong dollar-denominated CB which is priced at best terms for investors.

Hong Kong property and hotel group Far East Consortium last night raised HK$800 million $103 million from a Hong Kong dollar-denominated convertible bond, becoming the first company in Asia to tap the equity-linked markets this year.

The bonds, which mature in five years but can be put back to the issuer two years after the settlement in early March, was increased from $750 million, making partial use of the $150 million upsize option after the offering was more than...

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