JX Metals Prices $1.6 Billion of Convertibles at Top of Range

JX Advanced Metals Corp. has priced its zero-coupon convertible bonds at the top of the marketed range, underscoring solid investor demand for equity-linked securities in Japan.

The chip material maker raised ¥250 billion ($1.6 billion) from two tranches of equal-sized bonds, with one maturing in 2029 and the other in 2031. The firm set a price of 113.25% for the 2029 bond and 114% for the tranche maturing in 2031, according to a release.