E.Sun ushers dawn of new age for Asian CBs

Asian convertibles enter an era of negative yields for primary market deals.

In an increasingly familiar pattern, a Taiwanese financial holding company launched and executed a heavily oversubscribed offering within the space of a few hours yesterday (Monday). E.Sun Financial Holdings raised $160 million via lead manager Morgan Stanley in a deal that closed 8.3 times covered after only three hours and the imposition of a $10 million to $15 million cap on individual orders.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.

Share our publication on social media
Share our publication on social media