Wistron raises $180 million from long-awaited CB

The Taiwan laptop and LCD TV maker beats rival Pegatron to the market after downsizing the deal to ensure there are enough asset swaps to cover the entire base deal.

It took about a week of intense negotiations and positioning, but yesterday afternoon Wistron Corp’s long-awaited convertible bond finally hit the market, making it the first Asian CB in 2012.

The deal has shrunk significantly from the $550 million transaction that the company was targeting when it made the initial filing some six months ago although Wistron has re-filed for a smaller $300 million deal since then as market conditions have deteriorated and banks were...

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