Strong Asian CB pipeline despite pause

Up to $1.5 billion-worth of new convertible bonds are waiting for an opportunity to come to market but US-listed names still able to launch deals.

Strong Asian CB pipeline despite pause
Chinese tutoring company TAL Education sold a $200 million convertible bond late last week.

The recent weakness in Asian share prices has made it less attractive for companies to sell convertible bonds but year-to-date issuance is still substantially higher than in 2013 and up to $1.5 billion of new issuance is waiting to get done, according to a leadingĀ convertible bond banker.

For now, many Asian issuers are taking advantage of continued low interest rates to raise cash through straight bond sales instead of issuing convertible bonds,...

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