Chinese medical devices maker MICROPORT SCIENTIFIC has sealed a five-year put-three convertible bond of US$700m. The zero-coupon CB was marketed at a yield of 0%-1% and a conversion premium of 30%-40%. It was sold at a 1% yield and a 32.5% premium. The deal attracted strong demand from investors with the books multiple times subscribed. Investors liked the medical technology player as it gave them a chance to invest in a part of the healthcare sector other than drugmakers and biotech companies.
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