Taiwan's Cathay Financial drew strong demand from investors
Cathay Financial last night priced a two-year zero coupon convertible bond that pays a 0.25% yield-to-maturity and offers a 27% conversion premium. The final deal size was $254.4 million, a source said.
It attracted huge demand from investors for the deal size of about $250 million, there was demand of more than $1 billion, the source said. About 70 investors participated in the transaction, with demand coming from Europe and Asia.