CRCC issues Asia's first convertible of 2016

State-owned construction and engineering company is the first China-registered company to issue an H-share convertible bond since new guidelines were unveiled last September.

CRCC issues Asia's first convertible of 2016

State-owned China Railway Construction Corp CRCC has executed the first H-share convertible since a new debt issue filing system came into force last September, raising $500 million from a deal that priced overnight on Monday.

The five non-call three-year offering came as something of a surprise to many market participants given it was launched on a day when Hong Kong’s benchmark Hang Seng Index dropped to its lowest level since September 2012.

...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...