TPK's $400 million CB sees overwhelming demand

The main supplier of touch technology to Apple, Taiwan-based TPK attracts $4 billion of demand, which allows it to price the three-year deal with a zero yield and a 32% conversion premium.

TPK's $400 million CB sees overwhelming demand

TPK Holding, the newly listed Taiwanese company that is the main supplier of touch screens to Apple’s iPhones and iPads, last night sold $400 million worth of three-year convertible bonds to raise funds for expansion. The deal was widely anticipated since Taiwanese companies have to make a public filing before issuing new securities, and investors piled in to get a share of the company’s success story.

According to sources, the offering attracted more than...

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