Strong demand for SMIC $200m convertible

Supported by an investment grade rating from S&P, the Chinese chip maker is able to achieve a zero percent coupon and yield as well as a 35% conversion premium.
Investors liked the fact that SMIC is quite a liquid stock.
Investors liked the fact that SMIC is quite a liquid stock.
October 25, 2013

Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) has raised $200 million from the sale of convertible bonds that met with massive demand from investors.

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