JX Advanced Metals Prices $1.6 Billion Convertibles at Top of Range
Updated
Updated · Bloomberg · May 19
JX Advanced Metals Prices $1.6 Billion Convertibles at Top of Range
1 articles · Updated · Bloomberg · May 19
¥250 billion in zero-coupon convertible bonds was priced by JX Advanced Metals at the top of the marketed range, signaling strong demand for Japan equity-linked deals.
The chip-materials maker split the offering into two equal tranches, with bonds maturing in 2029 and 2031.
JX set the 2029 tranche at 113.25% and the 2031 tranche at 114%, according to its release.
The top-end pricing suggests investors were willing to accept richer terms, reinforcing appetite for convertible securities in Japan.
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