CMC Magnetics completes CB

Lehman Brothers leads its fourth transaction for the Taiwanese CD-R manufacturer.

A $100 million zero coupon issue was priced Wednesday night after books closed two times oversubscribed. The deal was launched and priced within a 24 hour marketing period, although the lead had previously undertaken extensive credit marketing.

Similar to July 2001, when CMC last launched a $100 million zero coupon issue, convertible experts say the lead had a difficult execution job on its hands because there is not that much of a credit bid for the company.

CMC's experience...

To continue reading, please login or register for free

Click for more on: cmc | magnetics | completes | cb

Print Edition

FinanceAsia Print Edition