REC finds $30m new money in $110m CB exchange deal
New orders accounted for around one third of demand for a $110m convertible bond issued by Renewable Energy Corp, a Norwegian energy firm, with a buyback and exchange accounting for the rest.
The deal came as part of a clean-up of its capital structure and before a separation of its solar cell and silicon businesses.
REC bought back €79m of its 2014 convertible bond, at par value. Around 30% of the buyback will be settled in cash, with the
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