Zhongsheng Group boosts CB buyback to $588m

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By Jonathan Breen
13 May 2020

Zhongsheng Group Holdings has pulled off a HK$4.56bn ($588.3m) convertible bond and repurchase of an outstanding CB, increasing the deal size on the back of demand from existing bondholders.

The company, a dealer of luxury and mid-to-high end cars, jumped at the chance on Tuesday to issue a new CB as its stock hit a 52-week high. It came to the market primarily to extend the maturity of its existing equity-linked debt and to print the ...

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