Aperam goes opportunistic to raise $200m with CB
Aperam, the Luxembourg-headquartered stainless steel firm recently spun off from ArcelorMittal, raised $200m from a convertible bond on Thursday. The deal sent the company's shares up on the day as investors settled into the firm's newly opportunistic funding strategy.
The seven year deal was launched on Thursday morning with an initial size of $150m and an option to increase the total to $200m, an initial coupon range of 2.625%-3.375% and a 30%-35% conversion premium.
The deal priced later the same morning at the best terms for the issuer,
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