
China's Hansoh Pharmaceutical launches $600 million convertible bond, term sheet shows

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China’s Hansoh Pharmaceutical Group is raising $600 million through a seven-year zero-coupon convertible bond. The bonds, due in 2033, have a 0% yield and are convertible at a premium of 47% to 52% over the reference share price. Proceeds will fund research, manufacturing facilities, and corporate purposes. Hansoh focuses on developing medicines for various diseases. Shares have increased by 11.5% this year. Morgan Stanley and Citigroup are the joint global coordinators for this bond issuance.

