CMC Magnetics close debut GDR and new CB

The Taiwanese digital storage media manufacturer provides investors relief from a stream of bank deals.

A $160 million debut GDR and $145 million convertible for CMC Magnetics were completed in quick succession on Tuesday by their respective lead managers JPMorgan and Lehman Brothers. After a few weeks of large equity-linked deals with low volatility from the Taiwanese banking sector, investors appeared to readily welcome a tech name with high volatility.

The GDR and convertible successfully fed off each other, with the convertible in particular able to take advantage of the potential availability...

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