Neo Solar returns with $120m convertible

Taiwan-listed solar company plans to roll over its existing debt by issuing a new, credit-enhanced convertible bond.

Neo Solar returns with $120m convertible

Taiwanese solar cell manufacturer Neo Solar Power made its return to the international equity-linked market in slightly over two years, bringing a $120 million deal on Tuesday that received stronger demand compared to the last issue.

The structure of the new Reg S-only deal was largely similar to the company’s outstanding $120 million zero-coupon bond due 2017. Both deals have a maturity of three years, came with no coupon, and were launched with a...

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