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Forthnet to raise EUR 99 mln in convertible bond issue

Tuesday 20 September 2016 | 12:28 CET | News
Greek operator Forthnet is going ahead with the issue of a EUR 99 million convertible bond, as agreed under its refinancing deal with lenders in June. Existing shareholders have pre-emptive rights on the issue, which will run for nine years and carry interest of 1 percent a year. The bonds worth EUR 0.30 each can be converted at a ratio of one share for each bond. Forthnet said it will seek to place the remaining bonds with institutional investors if the issue is not completely subscribed by shareholders. It will devote EUR 70 million of the proceeds to paying off existing debt and the

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Categories: Fixed
Companies: Forthnet
Countries: Greece
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