Korian enters CB market with funky hybrid

By Jon Hay
28 Jun 2017

Korian, the French group that provides care homes for the elderly, on Wednesday became one of the very few companies to have issued a convertible bond structured to gain equity credit under IFRS.

The €200m issue, though unusually structured and from a debut issuer that could not have been on investors’ radars, was very popular with investors — so much so that it was priced at the best end of terms for the issuer and increased to €240m, the maximum Korian ...

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