Wordline issues new convertible, raises €600m

Worldline_PA_575_375
By Aidan Gregory
24 Jul 2020

Wordline, the French payments company, has returned to the equity-linked market to sell a new five-year €600m convertible bond at a negative yield.

In a regulatory filing, Wordline said it priced the zero coupon bonds at a 57.5% conversion premium, with an issue price of 106.3, implying a yield to maturity of -1.22% - the midpoint of the initial terms.

The size of the transaction was increased from €500m to ...

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