Haitong makes triumphant return to CBs

Haitong Securities' offshore arm sold its biggest ever convertible bond, helping the firm fund an aggressive expansion plan.

Haitong makes triumphant return to CBs

Hong Kong-listed Haitong International issued a HK$3.88 billion $500 million zero-coupon convertible bond on Tuesday, getting strong demand from investors for a deal that is bigger than its last two issues combined.

The BBB rated issuer managed to put together an order book of close to $1.5 billion from over 60 accounts, suggesting investors were hungry for more after previous Haitong deals have traded well in the secondary market. 

Investors...

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