Fu Ji Food issues tasty second convertible

A positive response from investors to Fu Ji's second CB within a year allows the three year deal to be increased by 25% to $128 million.

Fu Ji Food Catering became the fifth Asian company to issue convertible bonds in two weeks when it raised HK$1 billion $128 million from an upsized offering late Monday.

While the investor response to the various issues has been somewhat mixed, the increased frequency of the deals suggest that issuers are becoming happy with share price levels again. Market participants are now watching for the next Indian CB following a five-month long drought in the wake of the global...

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