Golden Agri taps into renewed interest for CBs

The Singapore-listed palm oil producer raises $400 million from the largest convertible in Asia ex-Japan year-to-date, while CCT confirms a strong response to its tender offer for its outstanding 2013 CBs.

Golden Agri taps into renewed interest for CBs
Golden Agri has a total planted area of 457,000 hectares in Indonesia

The pricing of three convertible bond issues on Thursday last week offered further proof that the Asian CB market has indeed sprung back to life after a very slow first half of the year.

The deals, led by a $400 million offering by Singapore-listed Golden Agri-Resources, came after four CBs were completed in the region in August and bring the year-to-date equity-linked issuance to $6.8 billion. This still leaves a big gap to the $19.7...

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