Strong demand for Far Eastern Textile exchangeable

The availability of asset swaps and shares to borrow fuel investor interest and allow the deal to be upsized by 20% to $180 million.

Asia Cement has become the first Asian company to complete an overnight deal of size in two weeks, showing that the volatile market doesnÆt rule out raising fresh cash even on an opportunistic basis as long as the offering is reasonably priced.

The Taiwan-listed producer of cement and other building materials sold $180 million worth of bonds exchangeable into Far Eastern Textile. The deal was open for less than two hours but attracted close to $1.75 billion of demand and...

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