books $500m exchangeable bond

By Jonathan Breen
15 Jul 2020

Chinese online travel company Group has bagged $500m from its debut tap of the equity-linked market.

The Nasdaq-listed firm has issued a 2027 bond exchangeable into American Depository Shares (ADS) of Chinese hotel management company Huazhu Group.

The notes were priced on Tuesday at an initial exchange price of $40.36 per ADS, representing a 20% exchange premium over Huazhu’s Monday close on the Nasdaq ...

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