Chinese companies rush to tap US convertible bond market

Upgrade to get full access to all premium news on Yahoo Finance and get more great articles like this free preview. Big Chinese companies are turning to the convertible bond market as a way of raising cheap cash from US hedge funds while circumventing investor concerns about political tensions between the two countries. Traditional US equity fundraising routes such as initial public offerings and follow-on share sales have been almost completely shut to Chinese companies since the disastrous listing of rideshare group Didi (DIDIY) in 2021, which delisted the following year after regulatory scrutiny. In recent weeks, however, a string…