Vinci, Severstal win juicy terms with CBs in deal-hungry market

Eurovia Vinci van PA images 230x150
By Jon Hay
09 Feb 2017

Equity-linked bond issuance, lagging behind demand in Europe, showed a burst of vigour on Thursday with the launch of three deals, including substantial convertibles for Vinci and Severstal that were both eagerly received.

“It’s a good day for the market because it needs liquidity and new deals,” said a banker who worked on two of the issues. “There have been a few this year but none since Fresenius on January 19.”

Today’s issues of $450m for Vinci, the French construction and ...

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