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Equities
SM Investments raises $250 million from unhedgeable CB
The Philippine investment holding company attracts good demand from outright investors, but doesn't immediately exercise the $50 million upsize option.
By Anette Jönsson | 6 February 2012
Equities
Pegatron raises $300 million from upsized CB
The zero coupon deal is priced with a 12% premium, but comes on the back of a share price rally that has pushed the stock to an 11-month high.
By Anette Jönsson | 31 January 2012
Equities
Exchangeable into Far Eastern New Century upsized to $375 million
The Asia Cement offering is the fourth equity-linked bond by an Asian issuer this week and the second out of Taiwan.
By Anette Jönsson | 21 January 2011
Equities
AU Optronics upsizes five-year CB to $800 million
The deal comes with a zero coupon, but offers a yield of 2.875%, resulting in strong demand from both outright investors and hedge funds.
By Anette Jönsson | 8 October 2010
Equities
Chaoda raises $356 million from CB/placement combination
The fruit and vegetable grower sells $200 million of five-year CBs that can be converted into equity at a discount to the latest market price.
By Anette Jönsson | 18 August 2010
People Moves
Citi expands CB sales and trading with new appointments
The bank transfers PJ Andersson from New York to become pan-Asia head of equity derivative and convertible sales and makes promotions and hires for its Asia CB trading desk.
By Anette Jönsson | 20 July 2010
People Moves
CB specialist set to join Citi chooses Standard Chartered instead
Nathan McMurtray joins Standard Chartered as global head of origination for equity-linked securities, a job left open when Morgan Stanley poached three people from the UK bank ...
By Anette Jönsson | 15 April 2010
Equities
Fufeng Group sells Rmb820 million of international CBs
The MSG producer holds above par in the secondary market, reversing a recent trend that has seen several CBs trade lower after pricing.
By Anette Jönsson | 29 March 2010
People Moves
Citi hires McMurtray for Asia CB team
The former Morgan Stanley employee returns to the public convertible bond market after a year at Standard Bank.
By Anette Jönsson | 23 March 2010
Equities
A-Reit raises S$300 million from collateralised exchangeable
The innovatively structured deal gets a triple-A rating from both Moody's and S&P, allowing the Singapore-listed trust to achieve a coupon of just 1.6%.
By Anette Jönsson | 16 March 2010
Equities
Tata Motors raises $750 million through GDRs and CBs
The fixed-price transaction by Indian car and truck manufacturer Tata Motors comes a day after Larsen & Toubro completed a similar combined deal comprising a QIP and a CB.
By Anette Jönsson | 12 October 2009
Debt
Nine Dragons offers to buy back bonds at par
The paper manufacturer uses its cash resources to launch a second tender for its outstanding bonds, while cash-strapped Powerchip is forced to pay its CB investors partly in ...
By Anette Jönsson | 10 July 2009
Equities
Techtronic places CB with small group of investors
The Hong Kong-based manufacturer of Hoovers and power tools raises $125 million from a privately placed CB with warrants, triggering an 18% drop in the share price amid fears ...
By Anette Jönsson | 27 April 2009
Equities
ProMOS tender succeeds after criteria amended
The Taiwan memory-chip maker says 80.34% of the CBs were tendered or will be held to maturity, allowing it to move on to the next phase of its restructuring.
By Anette Jönsson | 31 March 2009
Equities
ProMOS tender nearly there; deadline extended again
Soft indications of support for the bond buyback suggest the acceptance rate will be above the 79% needed for the deal to succeed, but analysts warn of more troubles ahead.
By Anette Jönsson | 24 March 2009
Equities
SK Telecom prices $300 million CB
The CB comes with a 23% conversion premium, a 1.75% coupon and a whole lot of controversy.
By Anette Jönsson | 20 March 2009
Equities
ProMOS says 70% of CB holders support tender
In the hope of achieving the minimum acceptance rate of 79%, the Taiwanese chipmaker extends the early premium deadline until the end of the tender offer set for March 21.
By Anette Jönsson | 19 March 2009
Equities
ProMOS extends early deadline on CB buyback
The cash-strapped DRAM maker says more than 50% of its CB holders have indicated support for the offer, but some need more time to complete the tender process.
By Anette Jönsson | 4 March 2009
Equities
Nine Dragons buys back 57% of its bonds
The Chinese paper manufacturer extends its early tender deadline to tempt more investors to surrender their bonds at the higher price, while in Taiwan, ProMOS calls on CB ...
By Anette Jönsson | 26 February 2009
People Moves
Standard Chartered poaches CB exec from Citi
With the hiring of Citi's head of equity-linked origination Ronnie Potel, the UK-based bank shows that it intends to become a serious player in Asia's convertible bond market.
By Anette Jönsson | 24 February 2009
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