By Evan Weinberger
New York, July 20 - Auréa priced €40 million in 3% convertible bonds due July 30, 2012 in the Oceanes structure to yield 6.5% with an initial conversion premium of 30% Thursday after market close.
Octo Finances SA is the bookrunner of the Regulation S transaction. The settlement date is July 24.
The bonds have a €22.17 conversion price and will be redeemed at 120%.
The bonds are callable on July 30, 2010 subject to a 130% hurdle. There are no puts.
Auréa is a Paris-based environmental and sustainable development services company specializing in motor oil and plastics recycling. The company plans to use the proceeds for corporate strategic acquisitions.
| Issuer: | Auréa
|
| Issue: | Convertible bonds
|
| Amount: | €40 million
|
| Maturity: | July 30, 2012
|
| Coupon: | 3%
|
| Redemption price: | 120%
|
| Yield: | 6.5%
|
| Conversion price: | €22.17
|
| Conversion premium: | 30%
|
| Call: | July 30, 2010 subject to 130% hurdle
|
| Put: | No
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Bookrunner: | Octo Finances SS
|
| Structure: | Oceanes
|
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