Based on the effective maturity dates, the Citigroup-led US dollar-denominated deal is the longest tech sector CB of size out of Asia since early 2005. Both tranches have a final maturity of seven years, but investors can put them back to the issuer after four and five years.
The company, which was initially considering a high-yield bond to cover its financing needs, wanted as long a tenor as possible but agreed that it would make sense to use two maturity dates in order to split...
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