When it rains it pours. While rumours abounded on Wednesday and Thursday last week about an upcoming convertible by a Hong Kong-listed Chinese issuer and investment banks were busy fighting for a piece of that action, Hong Kong-based Techtronic Industries quietly placed a $125 million dual-tranche CB with warrants on Thursday night, beating Beijing Enterprises to the punch.
However, the Techtronic deal was privately placed on fixed terms with just six investors meaning Beijing Enterprises, which was finally launched after the market closed on Friday see separate story on today's website, will still be regarded as the first publicly marketed CB from Hong Kong and China this year.
That said, one can argue that...
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