Lufthansa convertible lifted by vaccine hopes

Deutsche Lufthansa, the German flag carrier, has exploited the huge rally in equity markets in recent days by issuing a €600m convertible bond, which attracted orders from over 200 investors.
The spectacular surge was stoked by an announcement on Monday that Pfizer and BioNTech’s Covid-19 vaccine has been 90% successful in phase three trials.
Germany’s benchmark index the DAX rose more than 6% at the start of this week, and stocks that have been hit hardest by ...Already a subscriber? Login