Far Eastern International Bank sells $150 million of rated CBs

The first US dollar convertible bond out of Taiwan this year comes with plenty of asset swaps, but is allocated mostly to outright funds.

Far Eastern International Bank sells $150 million of rated CBs

Taiwan’s Far Eastern International Bank last night joined the growing number of issuers accessing the convertible bond market when it raised $150 million from a zero-coupon deal. This was another aggressively priced deal and, in fact, the first one this year to price away from the cheap end.

The fact that the issuer is based in Taiwan and the deal therefore came with plenty of asset swaps clearly helped in terms of the pricing, but...

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