Asia Cement seals $215m convertible at low end

Building Site
By John Loh
11 Sep 2018

Asia Cement’s first convertible bond (CB) sale in five years was priced at the best end of terms for investors, which bankers away from the deal said was “extremely cheap”.

The Taiwanese firm opened books for the fundraising on Monday evening after markets closed with a base size of $200m and a $50m greenshoe.

The equity-linked paper, which is settled in dollars but linked to Taiwan dollars, was launched with a 10%-15% conversion premium over Monday’s close of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial