Huazhu books $450m from ADS convertible bond

By Jonathan Breen
11 May 2020

Chinese hotel company Huazhu Group has returned to the equity-linked market, raising $450m from a bond convertible into its American Depository Shares (ADS).

The issuer appointed Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and UBS as bookrunners to lead the transaction. The CB has a six-year maturity and is puttable after four years.

The syndicate launched an accelerated bookbuild for the transaction when US markets opened on May 7. Huazhu ...

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