Lufthansa convertible lifted by vaccine hopes

By Aidan Gregory
10 Nov 2020

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 ...

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