Prysmian convertible bond drew strong demand - CFO
MILAN, March 5 |
MILAN, March 5 (Reuters) - Demand for the 300 million euro equity-linked convertible bond issued by Italian cable maker Prysmian was almost three times the offer and will be used to help repay a loan, Prysmian's chief financial officer said.
"Demand was very strong. Orders were close to three times the offer," CFO Pier Francesco Facchini told Reuters on Tuesday.
More than 50 percent of investors were anglosaxon and French, he said.
"The proceeds will be used to pay back part of a 2014 term loan," Facchini said.
Earlier the world's largest cable maker said it was launching the placement of five-year equity-linked bonds convertible into its own shares.
(Reporting By Massimo Gaia, editing by Stephen Jewkes)
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