Diversification demand fuels Biostime $200m tap

Biostime International ventured out to the debt market on Monday with a tap of its outstanding five year bonds. Thanks to strong momentum, the issuer decided to raise $200m instead of the initial target of $150m.

  • By Addison Gong
  • 24 Jan 2017

Sold in June 2016, Biostime’s $400m 7.25% 2021s were priced at par. Back then, the company spent time with accounts in Asia, Europe and the US to build relationships and undertook investor relation work, according to a source with knowledge of the trade.

“Investors, particularly here in Asia, ...

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