Hon Hai and Samsung re-charge convertible market

Two new deals provide a renewed display of the growing popularity of equity-linked instruments for Asian issuers and investors.

A $300 million convertible for Taiwan's Hon Hai Precision and a $200 million convertible for Samsung Electronics of Korea mark the first two major international equity transactions from Asia this month and add to a growing stockpile of deals from the sector. Since Hutchison Whampoa launched its landmark $3 billion exchangeable in mid-September, the equity-linked market seems to have found its feet for the first time since the Asian crisis, with four of last month's nine major international equity transactions also comprising convertible deals.

Samsung and Hon Hai have both been brought to market under accelerated launch schedules, with the former priced within five hours of marketing on Tuesday...

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