Published on 8/31/2004 in the Prospect News Convertibles Daily.
New Issue: Orco Property €30 million convertibles yield 6.80%, up 11.73%
New York, Aug. 31 - Orco Property Group said it is offering a €30 million convertible bonds with a 6.80% yield and an 11.73% initial conversion premium.
AEK Amsterdams Effectenkantoor is managing the sale. Public subscriptions will be accepted from Sept. 6 to Sept. 17.
Orco is a Paris-based investor in central European real estate and hotels.
| Issuer: | Orco Property Group
|
| Issue: | Convertible bond
|
| Amount: | €30 million
|
| Greenshoe: | €4.5 million
|
| Maturity: | Dec. 31, 2011
|
| Coupon: | 5.5%
|
| Price: | Par of €32.40
|
| Yield: | 6.80%
|
| Conversion premium: | 11.73%
|
| Conversion price: | €36.20
|
| Conversion ratio: | 1
|
| Call: | After 19 months subject to 125% hurdle at price to give yield to maturity of 8%
|
| Pricing date: | Aug. 31
|
|
|
© 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.
