New Issue: lastminute.com sells €103 million convertible at 6.0% yield, up 27.5%

By Ronda Fears

Nashville, Sept. 3 - lastminute.com sold €300 million of five-year convertible bonds at par to yield 6.0% with a 27.5% initial conversion premium, via sole bookrunner Merrill Lynch International.

The European online travel site said proceeds would be used to fund acquisitions, projects and capital to consolidate and accelerate the company's development across Europe.

Terms of the deal are:

Issuer: lastminute.com

Issue:	Convertible bonds
Bookrunner:	Merrill Lynch International
Joint lead manager:	Cazenove & Co. Ltd.
Amount	€103 million
Maturity:	2008
Coupon:	6.0%
Price:	Par
Redemption Price:	Par
Yield:	6.0%
Conversion premium:	27.5%
Conversion price:	364.5p
Conversion ratio:	2.7435
Pricing date:	Sept. 3
Settlement:	Sept. 12
Distribution:	Regulation S

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