Celltrion launches $300m CB
South Korean biopharmaceutical company Celltrion approached investors on Wednesday evening with a $300m convertible bond, making its debut in the market after mandating JPMorgan as sole bookrunner of the deal.
The US bank launched the five year deal both puttable and callable after three years with a coupon of between 2.25% and a conversion premium of between 25% and 35%.
JPMorgan pushed ahead with the deal almost immediately after getting the mandate, and was planning to close
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