CIMB bags first major deal in Taiwan

Is joint bookrunner for US$400 million bond deal.

Malaysia’s CIMB Group said the US$400 million convertible bond was issued by Advanced Semiconductor Engineering, the world’s largest independent provider of semiconductor packaging and test services. ASE accounted for 18% of global market share in its sector in 2012. The issuance is the first convertible bond deal by CIMB in Taiwan and its investment bank’s second in North Asia this year. The zero-coupon, zero-yield issue is scheduled to mature in 2018 with an exercisable put option in the third year. The ASE offering attracted strong demand with books covered within 30 minutes and multiple times oversubscribed. CIMB Group, Datuk Seri Nazir Razak said the bank could not have had a better name for CIMB’s first major Taiwan transaction. “ASE is a global heavyweight in the technology sector and the positive response to the issue despite market volatility underscores the inherent strength of top Asian corporates,” he said. CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services.