Taiwan's Zhen Ding reopens CB market with $175 million deal

The three-year CB comes with a low conversion premium and attracts solid demand from investors hungry for new issues.

Taiwan's Zhen Ding reopens CB market with $175 million deal
Zhen Ding is a supplier for Apple’s popular iPad (AFP)

After two months with no issuance, Taiwan-based Zhen Ding Technology Holding last night reopened the Asian convertible bond market with a three-year deal. The company, which is new to the international markets, refrained from being too aggressive on price and was awarded with solid demand from new issue-starved investors, which allowed it to exercise the entire upsize option as well as half the greenshoe.

This resulted in a total deal size of $175 million and...

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