Edenred gets ‘free money’ with debut convert
Edenred, the French provider of corporate vouchers, has reopened the European equity-linked market after the summer with a €500m sale of convertible bonds due in 2024 that attracted more than 100 investors, according to sources close to the transaction.
The sale, which is Edenred’s debut, was priced at a deep negative yield of minus 1.53%, just as German, Italian and UK government bond yields hit new lows on Tuesday.As a result of market volatility and a general lack of supply, market sources told GlobalCapital over the summer that there ...
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