Nanya Tech seals $500m convertible bond

Memory chip maker pulls off one of the biggest convertible bond sales in Taiwanese history, reaping $500 million in Asia ex-Japan's first international convertible of 2017.

Taiwanese memory chip maker Nanya Technology completed the first internationally-marketed convertible bond offering of the year in Asia ex-Japan on Tuesday, raising $500 million from a US-dollar denominated note to finance its expansion plans.

Nanya Tech’s decision to launch the deal on Tuesday helped it ride on the strong momentum of a convertible note sale by another Taiwanese tech company, Ennoconn, on Monday. Ennoconn’s $200 million Reg S deal, mostly locally distributed, traded exceptionally well and was indicated over four points higher in the secondary market on Tuesday.

In addition, Nanya Tech managed to take advantage of a decent rally in its stock since late...

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