Drillisch raises €100m in cooling equity-linked market

Drillisch, the German mobile phone firm, raised €100m from a convertible bond on Thursday, finding success in a cooling equity-linked market.

  • By Andrew Griffin
  • 05 Dec 2013

The 2018 deal was launched with initial coupon guidance of 0.75%-1.25%, and a conversion premium range of 17.5%-22.5%.

The launch terms implied volatility of around 17 to 23, against fair volatility of 25, said analysts away from the deal. That was attractive even at the worst end for investors, ...

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