Taiwan’s Hon Hai Precision Industry, the world’s largest manufacturer of electronic components, raised $1 billion on Thursday evening from the sale of a convertible bond that has been in the works since late last year. The company, which makes components for a variety of products including Apple’s iPhone and iPad, initially wanted five-year debt, but has been unable to find support in the market and has had to re-file with the regulators twice each time shortening the potential maturity. The latest filing suggested either a five-put-three deal or a straight three-year offering.
The CB, which was arranged by Credit Suisse and Standard Chartered, finally came as a three-year deal with no put, but a...
¬ Haymarket Media Limited. All rights reserved.
