Fugro to seek consents to amend subordination of convertibles due 2021

By Angela McDaniels

Tacoma, Wash., Oct. 30 – Fugro NV plans to conduct a consent solicitation for its €190 million of 4% subordinated convertible bonds due 2021, according to a company news release.

The company wants to amend the subordination provisions of the convertibles so that they rank fully pari passu with its new €100 million 4.5% subordinated convertibles bonds due 2024.

The new convertibles priced with a 42.5% initial conversion price and are expected to settle on Nov. 2. HSBC acted as global coordinator and bookrunner. ABN Amro, ING and Rabobank acted as co-managers.

Fugro provides geo-intelligence and asset integrity solutions for large buildings, industrial facilities, infrastructure and natural resources and is based in Leidschendam, the Netherlands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.