CCT, China Green add to stream of convertible bonds

18 March 2010

Singapore's CapitaCommercial Trust and vegetable grower China Green launched convertible bonds late on Wednesday in the latest sign that investors remain hungry for new issues. read more »


  • Bendigo back with a bang in A$1.1bn RMBS issue

    Bendigo and Adelaide Bank returned to the residential mortgage-backed securities (RMBS) market on Wednesday with a A$1.1bn ($1.01bn) deal that drew strong demand from both offshore and onshore investors.

  • Korea Life boosts IPO markets as shares rise on debut

    Korea Life Insurance, which raised $1.6bn in the country's biggest IPO in four years, lifted hopes for Asia's recovering IPO markets as it rose 8% on its debut on Wednesday.

  • ING sells guaranteed bond as Australian deadline looms

    ING’s Australian subsidiary raised A$475m ($438m) on Wednesday in what looks set to be one of the last new issues covered by Australia’s outgoing government guarantee programme.

  • IL&FS Transportation shows promise of Indian IPOs

    IL&FS Transportation Networks looks set to raise up to $154m after closing the books on a heavily oversubscribed initial public offering that underscored the depth of demand for Indian equities — at the right price.

  • CMBS issuers turn to convertibles as new funding tool

    Equity-linked investors look set to become a future source of funding for Singapore’s real estate investment trusts, bankers said this week, pointing to the success of a convertible bond that came with all the features of a commercial mortgage-backed securitisation.

  • Hynix creditors launch $814m block sale at zero discount

    A group of shareholders sold a 6.7% stake in Korea’s Hynix Semiconductor on Monday evening in an $814m block sale that came flat to the stock's closing price on the day.

  • Woori meets investors as Asia waits for next bond issue

    Debt bankers expressed frustration on Monday at the lack of a clear pipeline for Asian bond sales, while some played down suggestions that Korea's Woori Bank would follow its non-deal roadshow with a new issue.

  • Ascendas REIT launches rare triple-A rated convertible

    Ascendas Real Estate Investment Trust launched a S$300m ($215m) secured convertible bond on Monday night in what looked set to be the only Asian equity-linked deal to receive a triple-A credit rating.

  • Fook Woo targets $183m from Hong Kong listing

    Fook Woo Group, a Chinese paper recycler, began bookbuilding on Monday as it looks to raise up to $183m in a Hong Kong IPO.

  • TABLE: Pending international bond issues in Asia ex-Japan

    Woori joined the long line of Asian issuers that are meeting debt investors this week. Read on for a list of new issues that are expected to come to market.

  • CLP raises $500m after strong response to dollar bond

    Hong Kong electricity company CLP Power launched a heavily oversubscribed $500m 10 year bond on Friday, offering further encouragement to the Asian issuers that are planning debt sales.

  • Far East Global sets price range for $79m IPO

    Far East Global Group, the Chinese building facade company, set a range of HK$1.18-HK$1.69 on Sunday for its Hong Kong listing, looking to raise up to $79m.

  • NMDC prices low as another public offering disappoints

    Indian iron ore company NMDC fixed the price for its follow-on public offering at the bottom of its target range after a disappointing response from foreign and retail investors left the deal just 1.25 times covered.

  • TAIPAN: India does it again

    India's plan to float stakes in some of its biggest companies is an impressive and ambitious project. But last week's NMDC sale showed the government remains too focused on price.

  • Man Wah, Zhongsheng lead the way in Asian IPO revival

    A sofa maker and a Chinese car dealer launched initial public offerings worth over $900m in Hong Kong this week, offering proof that confidence is returning to Asia’s battered new listing markets.

  • Shinhan beats expectations as window opens for Asian bonds

    Korea’s Shinhan Bank returned to the international bond market this week, raising $700m in a tightly-executed deal that showed the strength of demand for new issues and paved the way for other Korean issuers to follow.

  • Bharti squeezes lenders on $9bn Zain financing

    Banks fighting for a position on the $9bn financing behind Bharti Airtel’s acquisition of African telecoms assets are struggling to come to terms with the Indian telco’s aggressive pricing demands.

  • NMDC ignores foreign buyers with share sale

    The Indian government again struggled to attract demand for the sale of a stake in one of its flagship companies this week as a high price range kept investors away from a $2.5bn follow-on offering for iron ore company NMDC.

  • ICTSI gets strong offshore bid for well-timed dollar bond

    Philippine port operator International Container Terminal Services (ICTSI) made its debut in the international bond markets this week, raising $250m in a well-timed deal that capitalised on a rebound in appetite for high yield credits.

  • Korea Life’s IPO sets 4 yr record, under target

    Korea Life completed its initial public offering last weekend, raising W1.78tr ($1.55bn) in the biggest new listing in the country for almost four years.

  • Matahari catches the eye with talk of 600bp margin on LBO

    The loan backing CVC’s acquisition of Indonesia’s Matahari Department Store is set to be four times Ebitda with margins starting at the 600bp mark and a six year tenor, said a leveraged loans banker in Hong Kong.



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