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Tag: convertible

Equities
Keppel Land reoffers CB below par
The S$500 million five-year deal comes with a 33% conversion premium and a yield just above 2% after being reoffered at 99.
By Anette Jönsson | 9 November 2010
Equities
China Nickel makes last minute attempt to swap old CBs for new
The company offers to swap $180 million of existing CBs for a new issue of the same size and asks bondholders to forego the put option on the outstanding CBs as it lacks the ...
By Anette Jönsson | 21 October 2010
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
Hon Hai surprises market with long-awaited CB
After months of preparation, the Taiwan issuer launches a three-year deal the night before a long weekend, offering no yield and a 30% premium.
By Anette Jönsson | 4 October 2010
Equities
China Unicom breaks record with $1.8 billion CB
The share price drops, but the CB trades well in the aftermarket and is viewed as a good deal for both the issuer and investors.
By Anette Jönsson | 29 September 2010
Equities
Franshion copies perpetual deal pioneered by Sino-Ocean
The Chinese real estate developer raises $500 million from a private placement of perpetual convertible securities that could be called in five years.
By Anette Jönsson | 29 September 2010
People Moves
BoA Merrill makes Tye head of public CB origination
Nicholas Tye moves across from the sales desk to assume responsibility for the origination of publicly placed convertible bonds in Asia-Pacific ex-Japan, while Andrew Cooper ...
By Anette Jönsson | 24 September 2010
Equities
Chinese retailers tap the Hong Kong dollar CB market
Intime Department Store raises $250 million, while watch retailer and wholesaler Hengdeli walks away with $322 million after both deals are upsized.
By Anette Jönsson | 22 September 2010
Equities
CB market heats up as Maoye brings third deal in a week
The Chinese department store operator raises $150 million from an upsized Hong Kong dollar-denominated deal.
By Anette Jönsson | 15 September 2010
Equities
LG Uplus seeks to monetise treasury shares via $300 million CB
The deal features an innovative coupon and dividend protection structure to push investors to convert early and is also the first CB to effectively be denominated in Korean won ...
By Anette Jönsson | 14 September 2010
Equities
Shui On Land upsizes renminbi-denominated CB to $400 million
The convertible comes with the highest conversion premium in more than two years, which is made possible because of the availability of synthetic stock borrow.
By Anette Jönsson | 13 September 2010
Equities
Sound Global opts for CB after Hong Kong listing is postponed
The Singapore-listed wastewater treatment company raises $100 million from a renminbi-denominated CB that attracts strong demand from both outright investors and hedge funds.
By Anette Jönsson | 23 August 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
Equities
China Agri raises $601 million from CB/placement combination
The Hong Kong dollar-denominated CB is particularly well received, allowing it to be upsized to $400 million and sparking hopes that it could be what's needed to re-open the ...
By Anette Jönsson | 22 July 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
Equities
Sino-Ocean upsizes convertible deal to $900 million
The Chinese real estate developer sells convertible securities with an 8% coupon that will be treated as equity on the balance sheet from day one.
By Anette Jönsson | 15 July 2010
People Moves
Achintya Mangla returns to J.P. Morgan
The CB specialist, who agreed to join Bank of America Merrill Lynch earlier this month, will return to J.P. Morgan following a restructuring that gives him a bigger role as ...
By Anette Jönsson | 26 May 2010
Equities
Hynix CB fails to clear at par amid tough markets
The $500 million CB wasn't officially reoffered, but the bookrunners chose to break the syndicate and instead have each bank sell bonds in the secondary market -- at below par.
By Anette Jönsson | 13 May 2010
People Moves
BoA Merrill poaches Achintya Mangla from J.P. Morgan
The CB specialist will take on a dual role at BoA Merrill as head of equity-linked solutions for Asia-Pacific and head of Southeast Asia ECM. He is joined in the move by Aloke ...
By Anette Jönsson | 7 May 2010
Debt
Country Garden sells $550 million of high-yield bonds
The issue attracts strong demand, but convertible bondholders choose to hold on to their Country Garden paper, leaving the simultaneous CB tender with an acceptance rate below 20%.
By Anette Jönsson | 16 April 2010
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