Italian media group gets a shot of new cash with CB

By Andrew Griffin
03 Apr 2014

Italian media firm Gruppo Editoriale L’Espresso raised €100m through a convertible bond on Wednesday, seizing on excitement around southern Europe to price at the best terms for the issuer despite the deal's small size.

The five year bond was launched at around 7.45am in London with a coupon range of 2.65%-3.75% and a conversion premium range of 25%-30%. It was covered an hour later, with a quick response from domestic funds being followed by international accounts. Bankers walked most investors up to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial