Asia Cement launches $200m zero coupon CB
Taiwan’s Asia Cement Corp was due to price a $200m zero coupon convertible bond as EuroWeek Asia went to press. It is the company’s first CB since 2011 with proceeds used to refinance soon-to-be-maturing bonds.
The five year deal is marketing with a yield to maturity of 0% to 0.5%, a redemption price of 100% to 101.51% and features a put and a call after three years. It will be issued at par.
Bookrunners Bank of America Merrill Lynch, BNP Paribas and Goldman
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