Strong demand helps ASE price $400m CB tight
Hungry convertible bonds investors rushed to get their hands on Advanced Semiconductor Engineering’s $400m five year CB. With a book multiple times oversubscribed the Taiwanese firm was able to get away with tight pricing.
The deal, which launched with a 0% coupon, was offering a yield to maturity of 0%-1% and a conversion premium of 27.5%-35% and was eventually priced with a 0% yield and a 30% premium.
The aggressive pricing was in no doubt thanks to strong investor demand, which led to
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