Singapore heavyweights consider equity markets

As Singapore Power whittles down potential bookrunners to four banks, Chartered Semiconductor is said to be considering its first convertible.

Despite the fact that Chartered says it has no firms plans to launch a convertible bond, market players believe that a $300 million to $500 million transaction is very much in the offing. A small number of relationship banks are said to have been aggressively competing for a deal, which would rank as Asia's only outstanding offering from the pure semiconductor sector, following the redemption of an $85 million issue by Taiwan's Orient Semiconductor.

Previously, banks have pitched the idea of an exchangeable offering to Chartered's majority shareholder government-owned Singapore Technologies, which remains keen to further reduce its 62.6% stake. This time round, however, specialists say that the company is...

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