Deutsche buys $140 million of TCL Multimedia CBs
Based on past practices, the bank is expected to keep part of the investment and syndicate the rest.
Investors got a rare glimpse into the private world of principal investing yesterday when TCL Multimedia Technology Holdings published an announcement saying Deutsche Bank had bought $140 million worth of bonds convertible into shares of the company.
While Deutsche Bank would normally have kept this kind of investment quiet, TCL was required to issue a statement because the investment would account for between 42% and 70% of its existing share capital if the bonds are fully converted.
This latest investment...
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