Vodafone to Raise ~GBP2.9b via Mandatory Convertible Bonds
Source: BFW (Bloomberg First Word)
Tickers
VOD LN (Vodafone Group PLC)
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UUID: 7947283
(Bloomberg) -- Vodafone bonds intended to be issued in two tranches: 18 month maturity and 3 year maturity.
Alert: HALISTER- Conv. bonds represent ~5% of capital
- Co. says potential to buy back shares following conversion
- Co. to hedge its exposure to share price movements during the term of bonds via option strategy
- Initial conversion Price will be the higher of GBP2.1730 and the arithmetic average of the daily volume-weighted average prices of an ordinary share on LSE over period of three consecutive trading days, starting Feb. 19
- Coupon expected between 1.20% to 1.50% per annum for 18 month maturity, between 1.70% to 2.00% per annum for 3 year maturity
Source: BFW (Bloomberg First Word)
Tickers
VOD LN (Vodafone Group PLC)
To de-activate this alert, click here
UUID: 7947283