Sea nets $1bn from ADS convertible bond

By Jonathan Breen
15 Nov 2019

New York Stock Exchange-listed online gaming company Sea has bagged $1bn from its second tap of the equity-linked market.

The Singapore-based issuer pulled off the trade through a one-day bookbuilding in the US on Wednesday. The senior unsecured notes mature in December 2024 and are backed by Sea’s American Depository Shares (ADS).

Paying a 1% coupon, the convertible bond was priced with an initial conversion price of ...

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