Fosun sells $500 million of convertible bonds

The high-yield deal comes after a strong run in the share price and is supported by the fact the Chinese conglomerate is rated. The CB falls below par in the aftermarket, however.
Fosun has a high-yield rating from both Standard & Poor’s and Moody’s (BB+/Ba3).
Fosun has a high-yield rating from both Standard & Poor’s and Moody’s (BB+/Ba3).
November 08, 2013

Fosun International, a private-sector Chinese conglomerate listed in Hong Kong, raised HK$3.875 billion ($500 million) from a guaranteed and secured convertible bond after the market closed on Wednesday, taking advantage of a strong share price performance in the past 12 months.

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