Belgian holding company GBL to sell 1 bln eur GDF bonds
BRUSSELS Jan 24 (Reuters) - Belgian holding company GBL said on Thursday it will sell 1 billion euros ($1.33 billion) worth of bonds exchangeable for shares in French energy firm GDF Suez, representing almost half of the shares it holds in the company.
The bonds, which will have a maturity of four years and a yearly coupon of between 0.375 percent and 1 percent, represent 54 million shares in GDF, that's 2.3 percent of the French group's share capital.
The bonds will be priced at a level that means the implied price to exchange them into shares in GDF will be at a premium of 20 to 25 percent. ($1 = 0.7530 euros) (Reporting By Ben Deighton)
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