MTU Aero Engines monetises bull run with €515m convert
MTU Aero Engines, the German maker of aircraft engines, has issued a €515m convertible bond before being promoted to Germany’s Dax benchmark index later this month.
MTU’s deal comes after more than €2bn of new convertible or exchangeable bonds were issued in Europe last week.
Market sources had predicted that, after the summer, there would be a rush of new issues, due to pent-up demand from investors and many looming redemptions of existing bonds.
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