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The Greek infrastructure investor said the cash will be allocated to transportation, water, energy and other related infrastructure projects
Bond set to be priced at implied vol above secondaries
Bpifrance pounces to sell Technip block after shares leap
Issuer’s second deal followed upward revision to Ebitda guidance
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National Grid pulled off the rare trick on Thursday of issuing a convertible bond without any risk of diluting its shareholders, writes Jon Hay. The feat relies on an arbitrage that is only occasionally available, and has been accomplished just twice before in Europe in the last decade, bankers said. -
Immofinanz, the Austrian property company, conducted a €150m accelerated bookbuild on Tuesday evening in shares of its affiliate Buwog, a residential property developer. It was the culmination of a complex and carefully designed process to redeem a €375m exchangeable bond. The sale was priced at the market closing price, without a discount.
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Brait, the South African private equity firm listed in Luxembourg and Johannesburg, issued a £350m convertible bond on Friday September 11. A banker at one of the leads said the deal, a true credit instrument, was very unusual for a company of this kind.
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América Móvil on Thursday issued its second exchangeable bond into stock of Koninklijke KPN in just four months, raising €750m after a €3bn issue in May. But this deal, unlike the earlier, was a mandatorily exchangeable structure.
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SGL Carbon, the German manufacturer of products from carbon, issued a successful €167m convertible bond on Wednesday morning, and launched the repurchase of an existing CB.
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Unicharm, a Japanese maker of nappies and sanitary towels, launched an unusual ¥50bn ($419m) convertible bond on Tuesday September 8, with an exceptionally high offer price of 111.5.
