The CB, which was arranged by Deutsche Bank, wasnÆt without controversy, however, as the original yield had to be doubled before investors agreed to commit to the offering.
This was the first CB of size to be launched in the international market since Bumi Resources had to withdraw a $300 million offering a week earlier after investors found the terms too aggressive, and while the NWCL deal didnÆt fare as badly, the re-pricing does suggest that...
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