Asia Cement thinks small to seal CB at the third attempt

After two unsuccessful trials, it's third time lucky as the Taiwanese cement maker raises $215 million from a convertible debt issue by settling for a much smaller deal.

Asia Cement thinks small to seal CB at the third attempt

Taiwan-listed Asia Cement raised $215 million from its third convertible debt issue in eight years on Monday after substantially reducing its fundraising target despite a strong run in its share price.

The Taiwanese cement producer can breathe a sigh of relief now it has finally completed the convertible bond sale after two unsuccessful attempts. The company applied to the Taiwan Stock Exchange for a $400 million deal in both 2015 and 2017, but both...

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