Clear Media completes CB

China''s largest outdoor advertising company returns to the capital markets for the first time since 2001.

Hong Kong-listed Clear Media completed a debut HK$312 million $40 million convertible yesterday September 20 with JPMorgan as lead manager.

The transaction marks the group's first foray back into the equity markets since it listed at the very end of 2001 in an IPO led by Goldman Sachs. The new deal has a five-year maturity with an issue price of par, zero coupon and redemption price of 121.899% to yield 4%. There is a...

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