Ambit Microsystems launches CB

Marking the first equity issue after Chinese New Year, an $85 million convertible for Ambit Microsystems was launched yesterday (Monday) by Goldman Sachs, with Credit Suisse First Boston as joint-lead. The five-year zero coupon deal also represents the first capital markets transaction by the company to raise primary proceeds, following the sell-down of a stake by its parent Acer Inc last month.