Volkswagen raises 2.5 bln euros in bond placement
FRANKFURT Nov 6 (Reuters) - Volkswagen said on Tuesday it raised 2.5 billion euros ($3.20 billion) from the placement of a convertible bond.
The carmaker had said late on Monday it aimed to raise at least 2 billion euros of fresh capital with the issue to strengthen its balance sheet.
The bond, which must be converted into non-voting equity in 2015, carries an annual coupon of 5.5 percent, and the maximum conversion premium has been set at 20 per cent. ($1 = 0.7823 euros) (Reporting by Maria Sheahan)