Sound Global opts for CB after Hong Kong listing is postponed

The Singapore-listed wastewater treatment company raises $100 million from a renminbi-denominated CB that attracts strong demand from both outright investors and hedge funds.

Sound Global, a Singapore-listed provider of water and wastewater treatment services in China, has raised Rmb680 million $100 million from the sale of convertible bonds and could pocket another Rmb205 million $30 million if an additional upsize option is also exercised.

The deal, which was launched and priced after the market closed on Thursday, comes after Sound Global cancelled an attempt to obtain a dual listing in Hong Kong in June because it could not be concluded “on acceptable terms”....

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