Compal re-opens convertible market

Asia's first tech deal since July has been completed following the pricing of a $345 million (including shoe) convertible for Taiwan's Compal Electronics early last Friday Asian time. The transaction came at the wide end of its indicative range, but terms were felt to have been pushed as far as investors would allow them and were supported by aggressive credit appetite from lead manager Salomon Smith Barney, which benefits from a strong presence in the domestic banking sector.