Tag: convertible bond

The AI firm paired the $3bn convertible with a share placement, with proceeds earmarked for model development and business expansion.

Amid strong demand, the two Hong Kong-listed Chinese firms have announced zero-coupon convertible bond issues totalling around $1.3bn, as capital-intensive tech businesses seek funding while limiting immediate interest costs.

The bonds will be used to stockpile bauxite, refinance debt, to invest in overseas projects, share repurchases and for general corporate purposes; the aluminium giant also issued a concurrent share repurchase.

CTF Services is looking to dispose of its shares in Shoucheng Holdings in exchange for the notes. Hong Kong has seen a spree of convertible bond issuances this year.