Prysmian raises €300m from CB

Prysmian Cables & Systems, the Italian firm, sold a €300m convertible bond on Tuesday in a deal that analysts saw as expensive on all but the best terms for investors but nevertheless priced at mids.

  • 05 Mar 2013

The deal was launched as a €300m five year deal callable after three years subject to a 130% hurdle, with a 1.0%-1.5% coupon and a conversion premium of 30%-37.5%. It has dividend protection above €0.42, a 2.5% yield.

The shares underlying the bond represent 6.2% of the share capital. ...

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All International Bonds

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5 UBS 60.22 1 4.36%

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2 Credit Suisse 1,301.65 4 18.65%
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