BE Semiconductor rides sector momentum with new convert

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By Aidan Gregory
29 Jul 2020

BE Semiconductor, the Dutch semiconductor maker, has followed its peer STM Microtronics into the equity-linked market this week by selling a €150m seven year convertible bond.

Morgan Stanley is sole global coordinator on the sale, which was launched early on Wednesday morning, alongside a simultaneous delta equity hedge of up to €40m to facilitate the hedging of the convertible bonds.

An unrated issuer, BE Semiconductor’s deal comes after STM Microtronics raised $1.5bn ...

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