Equity-linked market welcomes Sfr1.3bn Sika mando convert

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By Aidan Gregory
23 Jan 2019

Swiss speciality chemicals company Sika attracted more than Sfr6bn of demand on Tuesday evening for a mandatory convertible bond issue to finance its Sfr2.5bn acquisition of Parex, the French building materials company, from CVC Capital Partners.

The trade, which was launched after the market close on Tuesday evening, was led by UBS as global co-ordinator with Citias a bookrunner.

Both banks were mandated to lead the deal around three months ago in the run-up to the takeover being announced in early January.

Sika opted for ...

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