Solar Applied Materials brings $115 million CB

The Taiwanese hi-tech metals manufacturer is the fourth company in two weeks to tap the Asia ex-Japan CB market, which remains buoyant after a 29% increase in equity-linked issuance in the first half of the year.

Solar Applied Materials brings $115 million CB
Solar Applied specialises in a material called sputtering target, which is used for coating CDs and DVDs, as well as hard disks

Taiwanese hi-tech metals manufacturer Solar Applied Material Technology on Friday raised $115 million from the sale of convertible bonds, making it the fourth Asian company to tap the CB market in the past couple of weeks. While most of these issues have been small, they suggest the market will remain busy as companies continue to take advantage of the fact that interest rates are still relatively low. Outright investors are also quite keen to get some downside protection...

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