hopson-brings-renminbidenominated-cb-to-foreign-investors

Hopson brings renminbi-denominated CB to foreign investors

The deal marks the sixth placement of Hopson stock in the past 12 months - all of which have been arranged by Credit Suisse.

By Anette Jönsson

January 18, 2007

Hopson Development was in the market again yesterday selling the equivalent of $225 million worth of renminbi-denominated but US-dollar-settled convertible bonds in another move to finance existing and new projects as well as potential acquisitions of new land.

This was the second fundraising by Mainland-based Hopson in two-and-a-half months after it did a placement of HK$996 million $128 million in new shares in early November. Credit Suisse acted as sole bookrunner for that placement as well as yesterdayÆs CB. The investment bank has done very well out of its relationship with Hopson in the past 12 months as it has also arranged the divestment of the original private equity stakes held by...

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