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Equities
Welspun chooses not to proceed with CB tender
The Indian company receives bids for about 50% of the $150 million convertible bond issue, but rejects them all as a falling rupee adds to the buy-back cost.
By Anette Jönsson | 19 December 2011
Debt
Country Garden to finance CB tender with new bond issue
No further details on the size of the tender or the new issue are available, but the CB has about $630 million outstanding.
By Anette Jönsson | 8 April 2010
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
KCC issues another exchangeable into Hyundai Heavy
The Korean company raises $200 million from the upsized deal, five months after buying back bonds exchangeable into the same target.
By Anette Jönsson | 9 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
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
Equities
ProMOS attempts CB buyback after failing to meet puts
The Taiwanese DRAM manufacturer secures a syndicated loan to cover a tender at 26.5 cents on the dollar, but more debt redemptions ahead suggest the company's troubles are not ...
By Anette Jönsson | 23 February 2009
Equities
Olam launches $150 million CB buy-back tender
The tender, which will permit investors to offload the poorly trading bonds and allow the company to make a profit, follows a similar offer by Korea's KCC.
By Anette Jönsson | 5 December 2008
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