After more than a month with no new convertible bond issues in Asia and no Chinese issuers at all year-to-date, two Hong Kong-listed Chinese firms chose to hit the market last night. First out was 361 Degrees International, a designer, manufacturer and retailer of branded mass-market sportswear, which raised $150 million from an upsized offering that met with strong demand.
It was followed later in the evening by a Hong Kong dollar-denominated transaction from Chinese property developer China Overseas Grand Oceans Group that was offering HK$2 billion $258 million worth of CBs with a HK$300 million upsize option.
The offering from 361 Degrees took the...
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