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.

This story has been corrected to note that the final deal size is $150 million, not $200 million.

Rumours that a Hong Kong-listed retailer was looking to issue a convertible bond had been doing the rounds for a week and yesterday evening they proved correct when Maoye International launched and priced a HK$1.17 billion $150 million five-year deal with a three-year put.

The Hong Kong dollar-denominated Reg-S deal, which was increased from a base size of $125...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: convertible | retail | department stores | jp morgan

Print Edition

FinanceAsia Print Edition

EVENTS