* CHINA (12/12 07:10 GMT) Yingli Green Energy Holdings sold US$150m 5-yr
zero-coupon CB due 15 Dec 2012. Greenshoe US$22.5m. IP par. Redemption
@128.827. Put after 3 years on 15 Dec 2010 @116.427. Call, subject to a hurdle
of 150%, before 15 Dec 2008 @105.22, before 15 Jun 2009 @107.917, before 15
Dec 2009 @110.682, before 15 Jun 2010 @113.518, before 15 Dec 2010 @116.427,
before 15 Jun 2011 @119.41, before 15 Dec 2011 @122.47 and before 15 Jun 2012
@125.609. YTP 5.144%. Conv px=US$43.4/share, vs previous share close
US$30.1399. Initial conv premium=40%. Settlement date 17 Dec. Lead managers
are Credit Suisse, Goldman Sachs and Merrill Lynch Pierce Fenner& Smit.
* THAILAND (12/12 03:45 GMT) Italian Thai Development PCL plans to sell CB
up to US$200m or an equivalent amount in any other currency. The bonds will
carry maturities of up to 7 years. The CB will be convertible into not more
than 728 million of the company"s common stocks. The CB issuance plan has been
approved by the company"s board of directors.
* TAIWAN (12/12 02:20 GMT) Taiwan Chi Cheng Enterprise (listed in Taiwan,
stock code 3095) NT$1b (US$30.90m) zero-coupon CB. Maturity 5 years due 17 Dec
2012. IP par. Put after 2 years on 17 Dec 2009 @101.0025. Call before 7 Nov
2012 at 100%, subject to a 150% hurdle. 10% clean-up call. Conv px=
NT$52/share, vs current px NT$49.1. Conv premium=10.19%. Max conv down=80%.
Lead manager is Yuanta Core Pacific Secs.
* CHINA (12/11 06:55 GMT) Tangshan Iron & Steel Co (listed on Shenzhen
Exchange, stock code 000709) sells RMB3b 5-yr CB due 14 Dec 2012. IP par.
Step-up coupon at 0.8%ann to Dec 2008, 1.1% to Dec 2009, 1.4% to Dec 2010,
1.7% to Dec 2011 and 2% to Dec 2012. Redemption at 110. Conv px = avg px for
30 days after 14 Jun 2008. Current px = RMB20.72. Settlement date 14 Dec. Lead
manager is BOC International.
* TAIWAN (12/11 02:28 GMT) Pro-Nets Technology Corp plans two CB issues.
One will be NT$150m, while another will be NT$100m. Both will carry a tenor of
5yrs and pay zero coupon. Proceeds will be used for general working capital.
The NT$150m deal will be guaranteed by Chinatrust Commercial Bank. Fubon Bank
is the trustee, while Chinatrust Securitieis is the undewriter.
* KOREA (12/11 01:35 GMT) Hynix Semiconductor Inc sold US$583.4m 5-yr
fixed-rate CB due 14 Dec 2012. IP par. Coupon 4.5%sa. Redemption at par. YTM
4.5% (indication 4.5-5.0%). The bonds will be convertible into about 14
million Hynix shares at KRW38,340 (US$/KRW=919.90) a share. Conv premium=42%,
the high-end of indication 32-42%. Put at par after 2.5 yrs on 14 Jun 2010.
Delisting & poison put. Softcall at par after 3 years on 14 Dec 2010, subject
to a hurdle of 130%. 10% clean-up call. Proceeds for general corporate purpose
and to build a new semiconductor production line. The transaction lured strong
demand and ended up with more than 10 times covered from 200 investors
involved. Heard that the CB traded higher in the grey market shortly after
launch. Credit Suisse, Goldman Sachs, KDB, Macquarie, Morgan Stanley and Woori
managed the sale.
* INDIA (12/11 01:00 GMT) Gremach Infrastructure Equipments & Projects Ltd
US$50m 5-yr offshore CB due 22 Jan 2013. Coupon 1%ann. IP par. Conv px
INR376.36/share. Conv premium 15%. Conv ratio 104.5807 shares. Parity 91.35.
5% clean-up call. IRR 7.3%. Settlement 21 Jan 2008. Launch 10 Dec 2007.
Standard Chartered is the lead manager of the deal.
* KOREA (12/10 09:35 GMT) Hynix Semiconductor Inc plans to sell about
US$500m 5-yr CB. Conv px between KRW35,640-38,340, representing 32-42% premium
of today"s closing price. YTM 4.5-5.0%. Credit Suisse, Goldman Sachs, KDB,
Macquarie, Morgan Stanley and Woori manage the sale.
* TAIWAN (12/10 04:18 GMT) Synmosa Biopharma Corp (listed in Taiwan, stock
code 4114) NT$250m (US$7.73m) 3-yr domestic zero-coupon CB. Maturity date 17
Dec 2010. IP par. Conv px NT$37.82/share. Conv premium 1%. Conv ratio
2644.1036 shares. Parity 100.87. Put @100.5 after 2yrs. 10% clean-up call.
Settlement 17 Dec 2007. Launch 7 Dec 2007. Proceeds will be used to repay bank
loans. Hua Nan Commercial Bank is the trustee, while Taiwan Securities is the
underwriter. The deal will be guaranteed by Fubon Bank.
* TAIWAN (12/10 01:45 GMT) Synmosa Biopharma Corp obtained regulatory
approval from FSC to sell NT$250m 0% domestic CB. Tenor will be 3yrs. Conv px
is set at NT$37.82/share. Proceeds will be used to repay bank loans. Hua Nan
Commercial Bank is the trustee, while Taiwan Securities is the underwriter.
The deal will be guaranteed by Fubon Bank.
* TAIWAN (12/06 01:20 GMT) Everlight Electronics (listed in Taiwan, stock
code 2393) NT$3b (US$92.8m) 5-yr domestic zero-coupon CB. Maturity date 14 Dec
2012. IP par. Conv px NT$130/share. Conv premium 5.43%. Conv ratio 769.2308
shares. Parity 96.15. Put @100 after 3yrs. 10% clean-up call. Settlement 14
Dec 2007. Launch 5 Dec 2007. Horizon Securities is the lead manager.
* CHINA (12/05 08:35 GMT) Home Inns & Hotel Management Inc, a Chinese
budget hotel operator listed on the Nasdaq, sold RMB1.1b 5-yr zero-coupon CB
due 10 Dec 2012. IP par. Convertible price at US$53.09/share, the middle of
indication US$52.31-544.25. Conv premium=37% over Monday"s share price close
at US$38.75. Puttable after 3 years @101.51 on 10 Dec 2010. Poison put.
Delisting put. Call also after 3 years @100 on 10 Dec 2010, subject to a 125%
hurdle. 10% clean-up call. Demand was termed strong with the final book about
five times covered with 45-50 investors participating. Proceeds for working
capital and general corp purpose. Credit Suisse and Merrill Lynch were lead
managers.
* TAIWAN (12/05 08:52 GMT) IA Co Ltd (listed in Taiwan, stock code 6177)
NT$300m (US$9.28m) 3-yr domestic zero-coupon CB. Maturity date 13 Dec 2010. IP
par. Conv px NT$19.80.share. Conv premium 1%. Conv ratio 5050.5051 shares.
Parity 102.53. Put @103.53 after 2yrs. 10% clean-up call. Settlement 13 Dec
2007. Launch 5 Dec 2007. The bond is guaranteed by Taiwan Cooperaive Bank.
Chinatrust Securities is the lead manager.
* TAIWAN (12/05 01:35 GMT) Shan-Loong Transportation (listed in Taiwan,
stock code 2616) NT$300m (US$9.28m) 5-yr domestic zero-coupon CB. Maturity
date 11 Dec 2012. IP par. Conv px NT$16.10.share. Conv premium 1%. Conv ratio
6211.1801 shares. Parity 99.38. Put @102.01 and 103.03 after 2yrs and 3yrs
respectively. 10% clean-up call. Settlement 11 Dec 2007. Launch 5 Dec 2007.
Chinatrust Securities is the lead manager.
* TAIWAN (12/04 04:05 GMT) King Chou Marine Technology is seeking approval
from FSC to issue up to NT$300m 5-yr domestic CB. The zero coupon bond will
come with both put and call options. Chinatrust Commercial Bank is the
trustee, while Chinatrust Securities is the underwriter of the deal.
* HK (12/04 03:10 GMT) PB Issuer Limited launches US$350m convertible bond
due 1 Feb 2013. The bond will be convertible into shares of Pacific Basin
Shipping Ltd (stock code 2343.HK) Coupon 3.3%sa. Conv px HK$19.28 (FX rate:
HK$7.7867/US$). Conv premium 27%. Conv ratio 4038.7448 shares. Parity 75.49.
Settlement 20 Dec 2007. Launch 3 Dec 2007. Goldman Sachs (Asia) is the
arranger of the deal.
* TAIWAN (12/03 09:12 GMT) Hwacom Systems Inc plans to issue up to NT$200m
domestic CB. The 3-yr 0% bond will be guaranteed by Mega Intl Commercial Bank.
Proceeds will be used to repay bank loans. Polaris Securities is the
underwriter of the deal. Other details are not decided yet.
* TAIWAN (12/03 09:00 GMT) Tatung Co (listed in Taiwan, stock code 2371)
NT$2.5b (US$77.41m) 5-yr domestic zero-coupon CB. Maturity date 10 Dec 2012.
IP par. Conv px NT$19.75.share. Conv premium 25%. Conv ratio 5063.2911 shares.
Parity 82.28. Put @100 after 3yrs. 10% clean-up call. Settlement 10 Dec 2007.
Launch 3 Dec 2007. China Development Industrial Bank is the guarantor. Lead
manager is Grand Cathay Securities.
* TAIWAN (11