YY returns with $400 million CB

Nasdaq-listed Chinese internet firm bounces back from failed November CB after posting solid results for 2013.

YY returns with $400 million CB

China's YY benefited from buoyant US markets on Tuesday as the Nasdaq-listed internet company raised $400 million from a keenly priced convertible bond.

The company previously tried to raise $250 million through a CB in November but that deal overlapped with a CB from rival Chinese internet company Sina and faced tougher market conditions. Sentiment has improved significantly since then, with many Chinese internet stocks surging to record highs.

YY is...

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