HKEx raises $500 million from five-year CB

The fully upsized deal offers a 34.57% conversion premium and becomes the biggest overnight CB in Asia-Pacific this year.

HKEx raises $500 million from five-year CB

Hong Kong Exchanges and Clearing HKEx has raised $500 million from the sale of a five-year convertible bond to help fund its acquisition of the London Metal Exchange LME.

The base deal size was $400 million with an upsize option of a further $100 million and, due to strong demand, it ended up being fully upsized to achieve the final figure of $500 million, sources said.

At $500 million, it...

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