Soufun upsizes CB by 40% to $350 million

Soufun Holding, the US-listed Chinese operator of a real estate internet portal, was able to upsize its convertible bond issue last week by $100 million to a total of $350 million, suggesting a continued strong demand for Chinese internet companies despite a recent pull-back in certain names.

The deal, which was completed early on Thursday morning Asia time after a near 24-hour marketing period, is the fourth CB from a major Chinese internet company listed in the US in the past few months. The other three Qihoo 360, Ctrip and Sina have raised a combined $2.2 billion of fresh capital from the CB market since late August.