In an unusual move, both companies bought their transactions to market on the same day, but found that neither suffered from the competition. Both were further launched under accelerated schedules, meeting heavy global demand that saw ACM close 12 times oversubscribed on a book of $2.1 billion and Quanta nearly 10 times oversubscribed. This sends an extremely positive signal to the Taiwanese market, one Asian syndicate head comments. These are the first two big transactions from the country to dip their toes in the water this year and they found it pretty warm.
Underpinning each deal's success has been a marked supplydemand imbalance, fuelled regionally by...
