chinese-starch-producer-brings-first-convertible-in-a-month

Chinese starch producer brings first convertible in a month

China Sun Bio-chem's deal was bought mainly for its equity story, but may signal the start of a new wave of CB issuance after the slow summer period.
September 06, 2006
Singapore-listed China Sun Bio-chem Technology Group yesterday September 6 raised $100 million from a sale of convertible bonds that bankers say could signal the beginning of a new wave of CB issuance following the market correction in May and the subsequent summer lull.

The JPMorgan-led sale, which was wrapped up in about two hours, was the first equity-linked deal to hit the Asian market since MalaysiaÆs Berjaya Land issued a $246 million ringgit-denominated bond exchangeable into lottery operator Berjaya Sports on August 7. And it was the first dollar-denominated CB since VideoconÆs ill-fated $105 million offering in mid-July.

With no credit bid provided by the bookrunner, China SunÆs offer was largely bought for the...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222