HKEx aims for record books with $500m convertible
The Hong Kong Exchanges and Clearing priced an enlarged $500m convertible bond at the start of the week, closing the largest internationally-marketed CB in Asia Pacific all year — and pulling off the highest conversion premium in the process.
The offering was over three times subscribed, allowing the exchange to use a full $100m increase option and price with a conversion premium of 34.57%. The issuer was clearly in a record-setting mood that was the highest conversion premium any Asian issuer had achieved all year.
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