Pescanova, Polarcus pounce for CB product
Spanish frozen fish producer Pescanova and UAE-based oil services company Polarcus, together raised a total of $342m from the European convertible bond market this week, adding to a light tally of issuance in the asset class.
BNP Paribas and Royal Bank of Scotland were bookrunners for Pescanovas six year bond, which launched on Tuesday with a deal size of Eu150m and was upsized during bookbuilding to Eu180m.
The bond came at the best terms for investors with a yield to maturity at the top of
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