First Taiwan convertible this year launched by Winbond

Scarcity value and signs of company turnaround help spur enough demand to increase offering size by 20%.
Memory chip maker, Winbond Electronics has become the first Taiwanese company to issue a convertible bond this year with a $120 million issue that attracted large investor interest simply because it was not from India or Hong Kong.

India has completely dominated CB issuance so far this year with about 75% of the market, with Hong Kong making up a large percentage of the rest. Consequently, there is a certain amount of scarcity or diversification value attached to an issuer from anywhere else.

In addition, Winbond itself is also a rare issuer because of its prudent financing strategy. This, together with signs of improving sales, added further to the buying interest and helped offset a...
¬ 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