CIMB Group, the Malaysian banking group, has made its first major transaction in Taiwan via a $400 million convertible bond issue by one of the largest semiconductor firms in the world.

Advanced Semiconductor Engineering has a market capitalisation of $6.2 billion and accounted for 18 per cent of global market share in its sector in 2012. The zero-coupon, zero-yield issue is set to mature in 2018.

"ASE is a global heavyweight in the technology sector and the positive response to the issue despite market volatility underscores the inherent strength of top Asian corporates," said Dato Sri Nazir Razak, group chief executive of CIMB Group, in a statement.

The transaction comes after the July 2013 launch of the firm's investment banking and brokerage business in Taiwan. CIMB Taiwan covers 67 per cent of Taiwanese stocks, which account for 60 per cent of the domestic market capitalisation and span nine sectors, including technology, finance, property, consumer and building materials.