TMT issues light up convertible bond market

Two convertible notes - one by Chinese internet service company Qihoo 360 Technology and one by Taiwan-based Advanced Semiconductor Engineering - are set to re-open the market for Asian companies.

TMT issues light up convertible bond market
Qihoo, listed on New York Securities Exchange, has a market capitalisation of $9.73 billion and is the largest company of its kind in China in terms of user base.

Two convertible bonds totalling $1bn issued have broken the summer lull and are expected to re-open the market for issuers from the region.

Advanced Semiconductor Engineering, a Taiwan-based company with a focus on semiconductor assembly and test services, raised $400 million on Thursday. This follows Qihoo 360 Technology, a Chinese internet service company, which raised $600 million the day before, the largest ever issued by a US-listed mainland company and the largest dollar convertible...

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