Hang Lung makes CB history

The Hong Kong property company is believed to have become the first ever convertible issuer to re-open an existing transaction.

Completed under an accelerated bookbuild yesterday Thursday, the group has added a further HK$1 billion line of paper $128 million to its outstanding HK$2.25 billion deal $289 million. There is also a HK$200 million greenshoe, which could bring the overall deal up to the HK$3.45 billion mark $443 million.

Under the lead management of Credit Suisse First Boston, which has once again underscored a reputation for being the most consistently innovative CB house...

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