Friendly all around as China Merchants nets $290m CB

China Merchants Land has scooped $290m through a convertible bond priced in its favour, as the presence of a standby letter of credit gave comfort to investors. But the extent to which the CBs traded up following the deal suggested that the issuer could have got away with more aggressive terms.... more

APAC Financial Markets • #BAML, #CCBInternational, #ChinaMerchantSecurities, #ChinaMerchantsLand, #ConvertibleBond, #DBS, #Equities, #EquityLinked #Equities, #Issuance/Pipeline