Taiwan CBs fire up Asian equity markets

Chi Mei Corp and Quanta Computer take advantage of strong market momentum.

Intense activity in the global convertible market is spilling over into Asia, with three benchmark deals now priced in the space of two days. Following the huge demand generated by a $160 million deal for E.Sun Financial on Monday, Quanta Computer and Chi Mei Corp stepped into the market on Tuesday with a further $425 million in paper.

Pricing on both deals shows just how far the Asian market has moved since the beginning of the year when only the TFT-LCD manufacturers were so needful of 5G funding that they were prepared to cede multiple re-sets and highly defensive structures.

The shift is particularly underlined by the pricing Chi Mei...

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