Alibaba drives Best CB debut on NYSE

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By Jonathan Breen
16 Sep 2019

Chinese logistics company Best has sealed a $175m convertible bond, benefitting from a jumbo anchor order from Alibaba Group Holding.

Credit Suisse, Goldman Sachs and JP Morgan opened the book for the five year CB, non-callable but puttable in year three, at a coupon range of 1.25% to 1.75% and a conversion premium of 30% to 35% on September 12 in Hong Kong.

The deal was well anticipated ...

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