Autonomy builds war chest with £500m convertible

12 Feb 2010

Autonomy Corp, the UK software firm, on Wednesday raised £496.8m through a convertible bond issue with a view to building a war chest for acquisitions.

Books on the deal were more than three times covered and the offer was in part placed with straight equity funds, highlighting unabated interest in the equity linked product.

"Autonomy is a large business with a market capitalisation of close to £4bn," said one banker involved. "Although the ...

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