ABN AMRO successfully closed a $125 million convertible for Chunghwa Picture Tubes CPT at London's close yesterday Wednesday.
For a little over six months, the flat panel and cathode ray tube manufacturer has been hoping to access the international equity markets with a $250 million convertible and roughly $400 million GDR. But after fruitlessly waiting for its share price to re-bound, the company took the decision to raise less funds than it originally hoped in return for securing funding for its 5G fab.
Yet after pre-marketing a $100 million offering with a highly defensive structure, the company was able to increase the final deal size by $25 million and there is also...
