China Medical Technologies completes upsized CB

The CB is upsized by 60% to $240 million as solid quarterly results help the medical company to attract investors.

China Medical Technologies has raised $240 million from the sale of convertible bonds one week after releasing strong first quarter results. In a quiet period in which few expected a convertible bond to do well, demand for the deal was so high that the company was able to upsize the deal by 60% from an initial target of $150 million.

The bonds, which will reach maturity in 2013, were not priced at the bottom of the range, such as has...

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