JPMorgan led a $120 million convertible for Taiwanese notebook manufacturer Wistron Corp on Monday. The transaction marks the capital markets debut for company, which represents the DMS design, manufacturing and services operations of Acer Inc and was spun-off last summer.
The five put two structures mirrors that of recent deals for Asustek and Nan Ya. Having marketed the transaction on an issue price of 100.5% to 101%, the lead priced the deal at 100.875% with a put option in year two at par and redemption at 98.702%, to yield minus 0.437%.
The conversion premium was marketed on a 28% to 33% range and priced at 30% to the stock's NT...
