Hunger fuels Singapore-listed Celestial NutriFoods issue

India has dominated Asian CB issuance this year, but with three CBs in a week from outside the subcontinent, does this mark a more regional trend?

Celestial NutriFoods has raised S$235 million $150 million from the sale of convertible bonds to pay for future expansion, including a move into a new business area announced earlier in the week.

The bought deal, which was fully underwritten by JPMorgan, was offered to investors with fixed terms that included a 45% conversion premium and a bond floor of 95.9%.

The bond issue was completed late Thursday May 11 and was the third convertible from a company listed...

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