Mid-cap Chinese miner issues $132 million credit-enhanced CB

China Daye Non-Ferrous becomes the second Asian company in two days to sell convertible bonds and the first since August to offer a renminbi-denominated deal.

Mid-cap Chinese miner issues $132 million credit-enhanced CB

 

After two months with no issuance at all, the convertible bond market in Asia has bounced back to life with two deals in two days. After the $220 million zero-coupon, zero-yield CB by Asia Cement on Tuesday, Hong Kong-listed mining company China Daye Non-Ferrous Metals Mining hit the market last night with an Rmb820 million $132 million deal.

While the offering was well below the previous day’s trade in terms of...

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