Convertibles all a quiver as Artemis draws bow on Eu600m

Artémis priced a Eu600m exchangeable into shares of PPR on Tuesday in the first benchmark-sized deal in Europe since April. The six year bonds, which came with a Eu90m upsize option, were being marketed with a 3.25% coupon and a 27% to 32% premium, which analysts described as fair at worst and attractive at best.