Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alstom > News item |
Alstom to sell up to €350 million new 6¼% five-year notes for cash
By Paul A. Harris
St. Louis, Feb. 17 - Alstom Group intends to sell up to €350 million of 6¼% notes due March 3, 2010 for cash, with the final amount to be determined by Feb. 25, the company said in a news release Thursday.
The notes are part of a €1 billion issue that priced on Wednesday at 99.829 to yield 6.291%, in an exchange offer for €395.9 million of the company's 5% bonds due July 2006 and €244 million of its subordinated auction rate bonds due September 2006.
BNP Paribas and Merrill Lynch & Co. were dealer managers for the exchange offer.
The buyback of the 5% notes due July 2006 priced at 102.661, resulting in an exchange ratio of 1.028369, according to an informed source.
Meanwhile the buyback of the auction rate notes due September 2006 priced at 106.194, resulting in an exchange ratio of 1.063759.
The exchange settles on March 3.
The issuer is a Paris-based manufacturer of power-generation systems, power plants, rail equipment, ships, electrical drives, motors, and generators.
© 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.