Panva launches as Taishin closes CB

Strong oversubscription reveals pent-up demand for convertible sector.

Taishin Financial Holdings launched and closed the first equity-linked issue by a Taiwanese financial institution in nearly nine months yesterday Thursday. Led by Salomon Smith Barney, books for a $180 million deal closed eight-and-a-half times covered after a five-hour marketing period, which clearly demonstrated how clearly investor appetite for financial holding company CBs has improved since a string of issues saturated the market last summer.

The deal, which had an original filing for $250 million, had been...

To continue reading, please login or register for free

Click for more on: panva | launches | taishin | closes | cb

Print Edition

FinanceAsia Print Edition