Zhejiang Expressway seals Asian euro CB first

The Chinese toll road operator received overwhelming demand for its debut €365 million H-share convertible bond, setting an example that other issuers could follow.
A section of the Shanghai-Hangzhou-Ningbo Expressway
A section of the Shanghai-Hangzhou-Ningbo Expressway

Zhejiang Expressway broke new ground for Asian equity-linked specialists on Wednesday, raising €365 million ($390 million) from the region’s first euro-denominated convertible bond — a deal that was met with massive demand at the tightest end of guidance.

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