OMV €550 million convertible talked at 1.25%-1.75%, up 35%-40%

Nashville, Dec. 15 - OMV AG, an Austria-based oil and gas concern, launched a €550 million offering of four-year convertible bonds talked to yield 1.25% to 1.75% with a 35% to 40% initial conversion premium.

The bonds will be non-callable for two years, then with a 125% hurdle.

Deutsche Bank Securities is sole bookrunner of the deal, which is slated to price Thursday.

OMV shares closed Wednesday in over-the-counter trading in the United States up $2.00, or 3.51%, to $59.00.

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