Korea's Taihan executes rare equity-linked deal

The manufacturer of cables and wires sells $410 million of CBs and bonds-with-warrants after another weak day in the markets.

KoreaÆs Taihan Electric Wire yesterday braved a sluggish market with the sale of Eur280 million $410 million of equity-linked debt to cover last weekÆs acquisition of a stake in Italy-based Prysmian Cables Systems from a private equity unit of Goldman Sachs.

The Eur392 million outlay for a 9.9% stake in Prysmian, which specialises in high value-added technology products such as submarine cables and extra-high voltage cables, and ranks as the worldÆs largest cable company, was paid in cash. However, yesterdayÆs...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition