ESR Cayman delivers $350m hot debut convertible

By Jonathan Breen
10 Sep 2020

Hong Kong-listed ESR Cayman pulled off its first convertible bond this week, signalling an increasing flow of deals to come to the Asian equity-linked market. The company took advantage of its surging stock price and a hot reception from investors to raise $350m. Jonathan Breen reports.

ESR, a logistics warehouses construction firm and lessor, has benefited from the growing Asia Pacific e-commerce industry, which has received a boost during the Covid-19 pandemic. The company posted its earnings results for the first half of 2020 late last month, showing profit of $144.7m, up 72.1% year-on-year.


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