Tui tests equity-linked boundaries with Eu218m offer

Tui, the German tourism and logistics firm, on Thursday raised Eu218m through a convertible bond that offers pre-emption to existing shareholders. The rare structure allows the company to increase its share capital by more than 10% without going through a lengthy rights issue process. It was last used in 2007 on a Eu200m convertible for solar technology firm Solon.