Heidelberg Druck puts out €60m CB

By Andrew Griffin
04 Jul 2013

Heidelberger Druckmaschinen, the triple-C rated printing machine firm, on Tuesday evening raised €60m from a convertible bond that will help pay down a syndicated loan, diversify funding and extend maturities.


The deal was priced with an effective conversion premium of more than 40%, taking into account Wednesday’s stock skid, but even with a coupon of 8.5% represented a saving of around 200bp, compared to a straight high-yield bond.

The unsecured bond was structured as a four year maturity ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Oops, something went wrong

We're sorry but at the moment we can't load this data