Deutsche Wohnen goes long with new €800m CB
Deutsche Wohnen, one of the biggest listed German residential property companies, added its name to the string of equity-linked deals in Europe this month on Tuesday when it printed an €800m eight year note to finance a tender offer for a previous convertible bond, due in 2021.
BNP Paribas, Deutsche Bank, Goldman Sachs and UBS were bookrunners.
The trade hit the screens at around 5.50am in London on Monday, with an initial coupon range of 0.1% to 0.6%, and a conversion premium of 40% to 45% above the volume-weighted average price during bookbuild.
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