Do & Co prints debut convertible

By Aidan Gregory
22 Jan 2021

Austrian catering services company Do & Co has issued a €100m convertible bond to shore up its balance sheet and fund investment opportunities once an economic recovery from the pandemic materialises.

Do & Co has never issued an equity-linked bond before, despite being listed since 1998, according to Dealogic data. The company is also unrated.

The five-year bonds were marketed with an initial conversion premium range of 30% to 35%, and a coupon range of 1.5% to 2%. ...

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