Hannstar follows ProMos to the convertible market

Another day another TFT-LCD transaction from Taiwan.

Flat screen panel producer Hannstar Display Corporation returned to the international equity markets for the third time this year with a heavily subscribed convertible via house banks Credit Suisse First Boston and ING. Providing markets continue to move up, accounts appear willing to hoover up the entire primary markets pipeline and books for Hannstar's deal closed 15 times subscribed after only two-and-a-half hours.

Terms were also aggressive relative to recent deals, with the put option pushed out...

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