361 Degrees raises $150 million from upsized CB

The sportswear designer and retailer is the first Chinese company to issue a convertible bond this year, but is quickly followed by China Overseas Grand Oceans with a $300 million Hong Kong dollar deal.

361 Degrees raises $150 million from upsized CB

After more than a month with no new convertible bond issues in Asia and no Chinese issuers at all year-to-date, two Hong Kong-listed Chinese firms chose to hit the market last night. First out was 361 Degrees International, a designer, manufacturer and retailer of branded mass-market sportswear, which raised $150 million from an upsized offering that met with strong demand.

It was followed later in the evening by a Hong Kong dollar-denominated transaction from Chinese...

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