New York, April 16 - Aegis Group plc priced €150 million of senior unsecured convertibles bonds due 2006 to yield 3.875% and with an initial conversion premium of 30%.
The convertibles priced in the middle of yield talk of 3.625% to 4.125% and at the aggressive end of conversion premium talk of 25% to 30%.
Societe Generale SA was bookrunner and joint lead manager for the deal, which was not offered in the U.S. ABN AMRO Rothschild was joint-lead manager and broker.
Aegis, an independent media buying and market research company, will use proceeds to pay earnout obligations of £30 million and to refinance maturing bank debt.
The transaction will also enhance Aegis' flexibility for funding future in-fill acquisitions, the company said.
| Issuer: | Aegis Group plc
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| Amount: | €150 million
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| Greenshoe: | €15 million
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| Maturity: | 2006
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| Coupon: | 2%
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| Price: | Par
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| Redemption price: | 107.95
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| Yield to maturity: | 3.875%
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| Initial conversion premium: | 30%
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| Initial conversion price: | 149.8 pence
|
| Settlement: | May 14
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