CaixaBank to launch €620 million bonds exchangeable for Repsol shares

By Jennifer Chiou

New York, Nov. 11 - CaixaBank SA announced that it has received approval for its upcoming offer of roughly €620 million of 4.5% to 5% bonds exchangeable for shares of Repsol, SA.

According to a notice, the company has begun its accelerated bookbuilding process directed to qualified and institutional investors through Citigroup Global Markets Ltd. and Morgan Stanley & Co. International plc as joint bookrunners.

The three-year bonds will have a face value of €100,000 apiece.

The securities will be exchangeable for ordinary shares of Repsol representing up to a maximum amount of 2.5% of its share capital.

The final interest rate and the minimum and maximum exchange price are to be decided.

Settlement is slated for Nov. 22.

The company will request that the bonds be listed on the Irish Stock Exchange.

CaixaBank is a financial services company based in Barcelona.

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