Vastned brings diversity to property CB party

By Andrew Griffin
03 Apr 2014

Dutch shop focused property firm Vastned raised €110m through a 2019 convertible bond on Thursday, bringing yet more supply from the real estate sector but pricing its deal tightly in a market otherwise starved of paper.

The deal was launched on Thursday morning with coupon guidance of 1.75%-2.25%, and a conversion premium of 25%-30%.

It was priced later with a 1.875% coupon and a 30% conversion premium, and bankers opted to use the €10m increase option. They had pushed most investors up through the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial