MORGAN Stanley Dean Witter is to run the books for a £1bn fund raising for the alternative telephony group, Colt. Colt's latest capital increase will combine the equivalent issue of £200m in straight equity, £200m in Deutschmark-denominated high yield debt and £200m in convertible finance. The terms on each of the equity-linked and high yield debt have not been formalised, although indicated terms will be revealed next week. The company has chosen DM-denominated vehicles as the nearest proxy to the Euro.
July 17, 1998
