Finland’s state-owned holding company Solidium on Tuesday turned to the tried-and-tested combined ABB and exchangeable bond formula to raise €1.05bn from a holding in TeliaSonera.
The structure unused in recent years but replicated on Wednesday when South Africas Shoprite Holdings launched a $1bn primary ABO and convertible allowed Solidium to tap two separate investor bases while sending a positive message about its large residual holding and minimising the size of the
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