Asia Cement returns with $172.5 million CB

The deal, which is upsized by 38%, comes as the Taiwanese cement producer's share price hits a three-year high.

Asia Cement returns with $172.5 million CB
Asia Cement's Hualien factory

Taiwan-based Asia Cement last night returned to the market to raise $172.5 million from a convertible bond that was upsized by 38% from the original base deal and priced close to best terms for the issuer. This was Asia Cement’s second equity-linked deal this year following a $375 million exchangeable bond into textile manufacturer Far Eastern New Century in January.

Both bonds were filed with the Taiwan regulators in December last year, but the company...

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