Hang Lung makes CB history

The Hong Kong property company is believed to have become the first ever convertible issuer to re-open an existing transaction.

Completed under an accelerated bookbuild yesterday (Thursday), the group has added a further HK$1 billion line of paper ($128 million) to its outstanding HK$2.25 billion deal ($289 million). There is also a HK$200 million greenshoe, which could bring the overall deal up to the HK$3.45 billion mark ($443 million).

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