Fubon opens new sector for CDIB and Taishin to follow

The financial holding company sets a new record for the Taiwanese CB market.

The Taiwanese convertible market entered a new era late on Tuesday night with the pricing of an increased $375 million convertible for Fubon Financial Holdings. Prior to Fubon, virtually all Taiwanese deals were small tech-related offerings and under Taiwanese law, investors had to convert their bonds into Entitlement Certificates ahead of the underlying stock, a laborious process which could take up to three months. Fubon, by contrast, has not only offered investors size and sector diversification, but is also...

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