Aug
11
Shanshui Bonds Jump Most on Record as Buyout Proposal Firms
ByChina Shanshui Cement Group Ltd.’s dollar bonds soared the most on record after two of its shareholders said they’ll make a cash offer to buy out the cement maker.
Shanshui’s $500 million 7.5 percent notes due 2020 jumped 4.86 cents to 98.5 cents on the dollar as of 9:30 a.m. in Hong Kong, the highest since May 21. State-owned China National Building Material Co. and Taiwan’s Asia Cement Corp., which combined hold a 37.6 percent stake, said today they’ll make a joint conditional cash offer to acquire all the outstanding shares they don’t already control…
Shanshui Bonds Jump Most on Record as Buyout Proposal Firms
