Japan pair in monster CB deals ahead of rate verdicts

Mitsubishi Chemical and Kyushu Electric Power raise a total of $2.6 billion from massive convertible bond deals, the largest in Asia in more than four years.

Japan pair in monster CB deals ahead of rate verdicts

Two Japanese companies issued mammoth convertible bond deals on Tuesday, returning to the market after long absences and raising a combined 300 billion $2.6 billion amid a week of substantial change and likely volatility in the global credit market.

Mitsubishi Chemical, Japan’s largest chemical manufacturer, was first out of the blocks to launch a dual-tranche convertible totalling $1.3 billion after market close. Kyushu Electric Power immediately followed with another dual-tranche convertible of identical size....

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