Fugro uses subordinated CB to repay US PP

Fugro, the Dutch geosciences company, turned to the convertible market on Wednesday to meet a specific corporate finance need, much as Rallye did in a different situation on the same day.

  • By Jon Hay
  • 19 Oct 2016

Fugro’s €150m five year deal, increased to €190m, appeared to attract more buzz from investors. It is subordinated, which some accounts do not like, but unlike Rallye’s was not equity-neutral.

HSBC led the deal, with ABN Amro as a co-manager.

“Fugro looked interesting,” an investor said. “The ...

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