Pacific Basin raises $350 million from upsized CB

The offering is the second equity-linked deal arranged by Goldman Sachs in less than a week.

Pacific Basin Shipping has raised $350 million from an upsized convertible bond issue at a time when volatile markets, and a poor debut by fellow dry-bulk shipping firm Sinotrans, have made investors a bit cautious about the sector.

Even so, the companyƆs inaugural CB attracted more than $1 billion worth of demand, which allowed the issuer to fix the conversion premium at the top of the range at 27% and increase the base deal size from $300 million. At the...

To continue reading, please login or register for free

Click for more on: convertible | shipping | dry bulk | goldman sachs

Print Edition

FinanceAsia Print Edition

CONFERENCES