Taiwan Glass taps hedge funds with $100m CB

Investors pushed a hard bargain given the uncertain market conditions but the willingness of Taiwanese banks to swap out the bond portion made the deal attractive to hedge funds — and were particularly important given the lack of stock available to hedge the equity piece.Read more here.Taiwan Glass Industrial raised $100 million on Monday from a five-year convertible bond, even as European stocks fell 2% amid fears of a conflict between Russia and Ukraine in Crimea.  

Investors pushed a hard bargain given the uncertain market conditions but the willingness of Taiwanese banks to swap out the bond portion made the deal attractive to hedge funds — and were particularly important given the lack of stock available to hedge the equity piece.

Read more here.