Pacific Basin raises $125m from CB

The Hong Kong-based dry bulk shipping company priced the deal at a 37.5% premium.

Pacific Basin raises $125m from CB

Pacific Basin Shipping has raised $125 million from a six-year convertible bond in an effort to help boost its balance sheet and manage upcoming liabilities.

Strong stock markets in Hong Kong buoyed the convertible bond issue, which is the second in one week following Taiwanese touch-screen manufacturer TPK Holdings’ $383 million concurrent zero-coupon convertible bond and equity sale on April 1.

Pacific Basin’s convertible has a six-year maturity and four-year investor put...

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