exchangeable bond

State-owned shipbuilder monetises bulky bank investment by replicating a similar deal six months ago. Will other cornerstones, such as troubled HNA Group, do the same?

Malaysia’s sovereign fund sells $321 million of sukuk exchangeable into Hong Kong-listed Citic Securities amid a strong run in the underlying stock.

The key cornerstone investor in China’s largest bank by retail branches raised $1 billion from an exchangeable bond issue, potentially exiting nearly half of its investment.

By issuing an exchangeable bond into China Modern Dairy, the dairy maker can potentially offload unwanted shares accumulated through a mandatory offer earlier this year.

The parent of Hong Kong and Shanghai-listed CRRC Corp is planning a new deal only months after a first equity-linked offering.

Both the issuer and investors appear to be happy as the Chinese property developer delivered a jumbo $1.5 billion exchangeable bond.

Meanwhile, the size of the new exchangeable bond into the same company was fixed at $750 million after good response from both existing and new investors.

The company reduces the EB issue to $332 million, but withdraws the consent solicitation which was seeking to make it easier to do a cleanup call.

The Philippine conglomerate says it will pay up to 107.75 per bond. The deadline is set for January 29 and its shares will be suspended from trading until then.