If something's worth doing, it's worth copying and equity capital market deals are no exception.
China Shipbuilding Industry Corporation CSIC underscored that point on Wednesday, when it sold $1 billion of bonds exchangeable into shares of Hong Kong-listed Postal Savings Bank of China PSBC. Rather than dreaming up something completely new, CSIC largely followed the model set just six months earlier by Shanghai International Port Group.
The earlier convertible was hailed by FinanceAsia's awards judge as 2017's Best Equity Deal for achieving a near-impossible mission monetising PSBC's notoriously illiquid shares through the equity-linked route.
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