Golden Agri CB

Golden Agri taps into renewed interest for CBs

The Singapore-listed palm oil producer raises $400 million from the largest convertible in Asia ex-Japan year-to-date, while CCT confirms a strong response to its tender offer for its outstanding 2013 CBs.
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Golden Agri has a total planted area of 457,000 hectares in Indonesia
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<div style="text-align: left;"> Golden Agri has a total planted area of 457,000 hectares in Indonesia </div>

The pricing of three convertible bond issues on Thursday last week offered further proof that the Asian CB market has indeed sprung back to life after a very slow first half of the year.

The deals, led by a $400 million offering by Singapore-listed Golden Agri-Resources, came after four CBs were completed in the region in August and bring the year-to-date equity-linked issuance to $6.8 billion. This still leaves a big gap to the $19.7 billion raised in 2011 as a whole, but $1.1 billion of issuance in just five weeks does suggest a return of confidence that bodes well for the next few months.

CB bankers...

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