Soufun upsizes CB by 40% to $350 million

The operator of China’s leading real estate portal follows the lead of Qihoo 360, Ctrip and Sina and issues convertible bonds after its share price triples in the past five months.

Soufun Holding, the US-listed Chinese operator of a real estate internet portal, was able to upsize its convertible bond issue last week by $100 million to a total of $350 million, suggesting a continued strong demand for Chinese internet companies despite a recent pull-back in certain names.

The deal, which was completed early on Thursday morning Asia time after a near 24-hour marketing period, is the fourth CB from a major Chinese internet company listed in the US in the past few months. The other three Qihoo 360, Ctrip and Sina have raised a combined $2.2 billion of fresh capital from the CB market since late August.

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