Apple supplier Zhen Ding taps CB market for $300m

Taiwanese circuit-board maker takes advantage of strong convertible market to sell three-year zero-coupon deal.

Apple supplier Zhen Ding taps CB market for $300m

Zhen Ding Technology, a Taiwanese company that supplies flexible circuits to Apple, raised $300 million on Wednesday night through a three-year zero-coupon convertible bond.

The pricing of the deal gave a good indication of how conditions have improved for CB issuers recently. Offering a yield of just 0.125% and a conversion premium of 15%, Zhen Ding achieved considerably better terms than it secured on its debut CB in May 2012, when it priced at...

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