casio-computer-issues-Ñ50-billion-convertible

Casio Computer issues Ñ50 billion convertible

The Japanese blue-chip sets the conversion price at a 35% premium, attracting strong interest from investors.
June 04, 2008
On Tuesday evening, and after a rapid bookbuild of less than three hours, Casio Computer sold Ñ50 billion $476 million worth of convertible bonds in a Reg-S deal to European, offshore US and Asia-Pacific accounts. The proceeds are to be used to expand the company's highly profitable business abroad, which includes the famous G-Shock watch.

The deal had two joint bookrunners, JPMorgan and UBS, with Daiwa Securities SMBC Securities as co-manager.

The conversion price was set at Ñ1,952, a 35% premium to the dayÆs closing price, after being offered in a range of 25% to 35%. The deal reportedly went very smoothly. öItÆs the only convertible bond by Casio out in the market,...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222