Why convertible bonds are the new darling of Chinese companies
BY Hu Yangxiaoxiao 胡阳潇潇, Sarah Wong |
In recent months, a wave of convertible bond issuance has breathed new life into Hong Kong’s anaemic capital markets. Since late May, four major Chinese internet and technology companies - JD.com, Lenovo Group, Alibaba Group, and Trip.com - have successively issued convertible bonds totalling $10.5 billion.