Osim raises $170m in first Singapore CB of 2014

The massage chair company issues the first convertible bond from Singapore this year and the first zero-coupon CB since 2007.

Osim raises $170m in first Singapore CB of 2014
Osim's massage chairs are a hit with increasingly affluent Asian consumers

Singapore’s Osim, which makes massage chairs, raised $200 million through a convertible bond on Tuesday evening the first deal from Singapore this year and the first zero-coupon CB in this market since 2007.

Strong demand from investors allowed the company to upside the base issue size from $150 million to $170 million, though the reduction of the upsize from $50 million to $30 million means that the total potential deal size assuming the upsize is...

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