Convertible bonds have emerged as one of the most popular asset classes in China this year, trouncing the performance of local stocks and fixed income https://t.co/SnTze1uczC ...

Today in Bloomberg Deals: Convertible bonds surge in Asia, Thames Water braces for state rescue and Mideast startups double fundraising https://t.co/kZEzTwOBpj ...

Asian sales of bonds that can be turned into shares have soared in 2025, heading toward multiyear highs https://t.co/jpRnpfyDos ...

Fly Play hf. has secured binding, conditional subscription commitments from investors for the purchase of a convertible bond totaling ISK 2.4 billion, or approximately USD 20 million. Among the participants in this financing round are the company's largest shareholders as well as new Icelandic investors. Attached is a company announcement providing further details on these plans. Also attached is a press release sent to the media on the same topic. Attachments Fly Play hf. issues a convertible bond Press re ...

Henderson Land Development is seeking to raise $1 billion from the sale of convertible bonds https://t.co/YiYlU55aZD ...

证券代码：601665 证券简称：齐鲁银行 公告编号：2025-024 可转债代码：113065 可转债简称：齐鲁转债 齐鲁银行股份有限公司 关于"齐鲁转债"转股数量累计达到转股前公司 已发行股份总额10%暨股份变动的公告 经上海证券交易所自律监管决定书〔2022〕342 号文同意，公司 80 亿元可 转债于 2022 年 12 月 19 日起在上海证券交易所挂牌交易，债券简称"齐鲁转债"， 债券代码"113065"。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 累计转股情况：截至 2025 年 6 月 26 日，累计共有人民币 2,650,263,000 元"齐鲁转债"转为齐鲁银行股份有限公司（以下简称"公司"）A 股普通股股 票，累计转股股数为 504,517,591 股，占"齐鲁转债"转股前公司已发行 A 股普 通股股份总额的 11.0137%。 ? 未转股可转债情况：截至 2025 年 6 月 26 日，尚未转股的"齐鲁转债" 金额为人民币 5,349,737,000 元，占"齐鲁转债"发行总量 ...

Group 1 - The core viewpoint is that the convertible bond market is experiencing a bull market driven by policy support, supply-demand imbalance, and capital allocation needs, with the China Securities Convertible Bond Index reaching a new high since June 2015 [1] - Since September 24, 2024, the China Securities Convertible Bond Index has accumulated over a 20% increase, entering a technical bull market phase [1] - The supply-demand imbalance is a key driver of the bull market, with the market's outstanding scale shrinking from over 870 billion yuan at the beginning of 2024 to below 680 billion yuan currently [1] Group 2 - The median conversion premium rate in the convertible bond market is close to 30%, with some bonds exceeding 100%, indicating a high valuation state driven by supply-demand imbalance and capital [2] - Investors may not continue to allocate convertible bonds at high premiums if the equity market is extremely weak, as both conversion and holding to maturity could lead to losses [2] - The ongoing bull market in convertible bonds raises the risk of forced redemption, as companies often include redemption clauses that can be triggered under certain conditions [2] Group 3 - Overall, the valuation compression space for convertible bonds is limited under the current institutional capital allocation and supply contraction backdrop, while investors need to be cautious of forced redemption risks [3] - It is advisable to select convertible bonds with good credit quality and avoid those with potential rating downgrades [3] - Despite a noticeable decrease in the number of delistings in the convertible bond market this year, caution is still warranted for bonds with weak credit quality [3]

Core Insights - The average yield of bond funds in the public market for May was 0.19%, with approximately 80% of the products showing floating profits [2][8] - Convertible bond funds performed well, with an average return of 1.28% in May, while passive index bond funds lagged behind with a mere 0.07% increase [3][4] Performance Analysis - Top-performing funds included Zhonghai Convertible Bond A and Huashang Convertible Bond Selection A, with returns of 4.72% and 3.09% respectively [5][7] - A total of 600+ bond funds experienced floating losses in May, with Jin Ying Yuan Feng A and He Xu Zhi Yuan Xin Yue Li Rate Bond A showing significant declines of 1.95% and 1.69% [8][10] Fund Details - Zhonghai Convertible Bond A utilized a quantitative approach for style selection and invested in undervalued convertible bonds [7] - Jin Ying Yuan Feng A's significant drop was attributed to its heavy investments in stocks and bonds that underperformed in the market [8][10]

SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualifie ...

Core Viewpoint - Euronext has launched an offering of €425 million in senior unsecured bonds due 2032, which are convertible into new shares and/or exchangeable for existing shares, aimed at qualified investors only [1][11]. Group 1: Offering Details - The nominal amount of the bond offering is €425 million, and the bonds will be issued with a denomination of €100,000 each [1][3]. - The bonds are expected to pay a fixed coupon rate between 1.5% and 2.0% per annum, payable semi-annually [3]. - The initial conversion price will be set between 30% and 35% above the reference share price on Euronext Paris [4]. Group 2: Use of Proceeds - The net proceeds from the bond offering will be used to repay a portion of a bridge loan facility used for the acquisition of Admincontrol and for general corporate purposes [2]. Group 3: Redemption and Conversion Rights - The bonds will be redeemed at par on 30 May 2032 unless previously converted, exchanged, redeemed, or purchased and cancelled [5]. - Bondholders will have the right to convert or exchange the bonds into new and/or existing shares from the 41st day after the issue date until 7 business days before the maturity date [7]. - The conversion ratio will be based on the principal amount divided by the initial conversion price, with standard adjustments for anti-dilution and dividend protections [8]. Group 4: Market and Shareholder Information - The bonds will be placed with qualified investors only, excluding public offers in certain jurisdictions [11][17]. - Existing shareholders will not have preferential subscription rights in connection with the bond issuance [12]. - The company is not aware of any intentions from its main shareholders to participate in the offering [13]. Group 5: Lock-up and Dilution - The company will agree to a lock-up undertaking regarding its shares for a period starting from the announcement of the final terms of the bonds and ending 90 days after the issue date [14]. - The potential dilution from the bond conversion, assuming a nominal amount of €425 million and a reference share price of €145.0, would represent approximately 2.1% of the company's outstanding share capital [15].