European equity-linked pricing worries investors

London fotolia
By Aidan Gregory
22 Jan 2020

Delivery Hero’s €1.75bn convertible bond, the largest in EMEA for five years, has provoked concern from some investors that the market may be mispricing risk, despite the popularity of the deal.

The dual tranche bond, issued on Thursday last week alongside a €571m capital increase, is due in 2024 and 2027. 

The deal was hugely popular.

The four year tranche was priced with a 0.2% coupon and a 40% conversion premium, while the seven year bond was priced at a ...

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