cb-wave-continues-with-sinopecs-15-billion-deal

CB wave continues with Sinopec's $1.5 billion deal

The issue is the largest convertible since 2001 in Asia ex-Japan and brings total equity-linked issuance in the past six days to $3.1 billion.
China Petroleum and Chemical Corporation Sinopec has completed a long-awaited convertible bond issue that rounds off six very active trading days in the equity-linked market with no less than $3.1 billion dollars worth of new paper being sold.

At HK$11.7 billion $1.5 billion, Sinopec is by far the largest among the five issues that have come to market since last Tuesday and the biggest CB by a Chinese issuer ever. According to Dealogic, it also ranks as the largest equity-linked issue in Asia ex-Japan in almost six years, behind a $2.66 billion issue by Hutchison Whampoa in January 2001 that was exchangeable into Vodafone shares.

Such a large size is perhaps fitting for...
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