Nomura’s handling of SK Telecom’s $300 million five-year convertible bond has left the market asking if it was the bold stroke that will establish the firm as a big player in Asia’s equity-linked market or an over-aggressive piece of business that could harm the market and the bank alike.
The deal, issued by the South Korean telecom firm on March 19 to refinance a similar bond maturing in May, was the first convertible bond to be issued by a company from Asia for some eight months. Initial price talk had been for a coupon of about 3%, and Barclays, Credit Suisse and Citi were believed to be handling the mandate. It came as something of a surprise,...
Please log in now to view.
Enter your username (email address) and password at the top right-hand side of euromoney.com.
If you do not currently have access to this content, visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30%
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe