Enterprise Inns CB raises £100m as hedge funds get a go at CB frenzy

Enterprise Inns, a UK pub leasing firm, raised £97m through a seven year convertible bond on Thursday, the third equity-linked deal in as many days. It was the first of those deals to be targeted primarily at hedge funds, and banks ran a concurrent equity placing to allow those investors to hedge the delta — although there was also strong interest from outright investors.