Bruxelles Lambert places fresh €500m convertible

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By Aidan Gregory
24 Mar 2021

Belgian investment company Groupe Bruxelles Lambert has raised €500m of financing at a deeply negative yield through a new bond convertible into treasury shares.

The five year bond, issued by a GBL holding company known as Sagerpar, is fully guaranteed by GBL.

Following an accelerated bookbuild on Tuesday, the new bonds were priced at 101.25, implying a negative yield to maturity of -0.25% - the cheapest end of the initial terms ...

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