CMC Magnetics plays to investors

The Taiwanese CDR manufacturer breaks Asia''s equity drought with a convertible bond.

Following an accelerated five-hour bookbuild, lead manager JPMorgan completed a $120 million convertible for the world's largest CDR manufacturer on Friday. Having watched the market all week, a decision was taken to launch the deal on the back of rising stockmarkets in Asia and Europe, with books closing 2.8 times covered.

CMC has been a regular visitor to the convertible market over the past four years, launching a total of three deals, all of which were led...

To continue reading, please login or register for free

Click for more on: cmc | magnetics | plays | investors

Print Edition

FinanceAsia Print Edition