E-House cuts CB by 25% to $135 million

Credit Suisse also re-offers the deal at 97.5 to make the terms more attractive after the online Chinese real estate services provider receives insufficient demand from investors.

E-House cuts CB by 25% to $135 million

US-listed online real estate services provider E-House China Holdings was able to complete a $135 million convertible bond offering just before the start of US trading on Thursday, almost 36 hours after the deal first hit the market.

However, the five-put-three deal was downsized from an initial plan to raise $180 million and the bookrunner also gave up a large portion of its fees to re-offer the bonds at a price of 97.5 and...

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