Lufthansa convertible lifted by vaccine hopes

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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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