IOI brings rare Malaysian CB

Malaysian plantation company adds diversity to the Asian CB market.

A $310 million convertible for IOI Corp was completed on Tuesday night. It brings the total number of outstanding Malaysian equity-linked deals to seven, adding welcome diversity away from troika of Taiwan, Hong Kong and India.

Under the lead management of Ammerchant Bank and UBS, the transaction was priced at the wide end of the range. However, market participants deemed the valuation fair, although some levelled accusations of bait and switch tactics - an oft-heard...

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