Techtronics debuts in CB markets

Power tool manufacturer raises funds for acquisitions.

Hong Kong listed Techtronics Industries raised $140 million on Wednesday from a debut convertible led by ABN AMRO and HSBC. Terms were aggressive and the deal consequently priced at the wide end of the range, with books marginally oversubscribed.

Terms comprised a five-year final maturity and a par in par out structure with a 1.5% coupon and three-year put option. The conversion premium was fixed at 38% to the stock's spot close of HK$12...

To continue reading, please login or register for free

Click for more on: techtronics | debuts | cb | markets

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...