SHANGRI-LA has increased the size of its convertible bond from US$200 million to $225 million.
Arranger Goldman Sachs said the issue was some four to five times oversubscribed.
Peter Mallinson, head of Hong Kong equities at Goldman Sachs said: ''It went very well. It is trading at a premium and we are very happy.'' The issue is priced with a 27/8 coupon. Under the discount issue, 86.236 per cent of par was the issue price.
There are seven years to maturity with a yield to maturity of 5.25 per cent. This is made up of the coupon and the accretion between the discount and the par value.
The pricing placed the issue on a 25 per cent premium, over the average of the last three closes or 21.76 per cent on yesterday's close.
Mr Mallinson said the issue was split $150 million in the international allocation and $75 million in the US.
