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
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.