SinoPac mandates as Cathay Life launches

Cathay Financial Holdings launched its highly anticipated convertible yesterday (Monday) as SinoPac Financial Holdings joined the queue of finance issuers with a prospective $350 million deal via UBS Warburg. The Swiss bank has been awarded sole books over long standing favourite Merrill Lynch, which had been expected to win the transaction after holding a mandate for a GDR issue where UBSW had been joint-lead.