Korian enters CB market with funky hybrid

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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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