Sacyr's new €175m CB attracts buyers

Sacyr, the Spanish construction company, enjoyed a strong reception from equity-linked investors on Wednesday when it issued a new convertible bond that was increased to €175m off the back of unexpected demand from long-only funds.

  • By Aidan Gregory
  • 11 Apr 2019

The new convertible bond was launched alongside a concurrent tender offer for Sacyr’s old €250m convertible bonds issued in April 2014, which are due to mature later this month. 

The old bonds are very far out of the money due to operational difficulties in recent years.

Deutsche Bank and ...

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