Ranbaxy gets $440m CB, shows mispricing is alive and well

17 Feb 2006

Indian pharmaceutical company Ranbaxy Laboratories issued a $440m convertible bond on Wednesday evening Indian time that had to be re-offered at 99.00 but still struggled in the secondary market.

Citigroup, Deutsche Bank, Morgan Stanley and UBS led the deal. The bond was quoted below 99.00 yesterday (Thursday) afternoon after ...

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