ACS Actividades de Construccion y Servicios SA To Issue EUR 700 Million Convertible Bond-Reuters


Friday, 4 Oct 2013 02:12am EDT 

Reuters reported that ACS Actividades de Construccion y Servicios SA (ACS) is planning to issue around EUR 700 million (USD 954 million) worth of five year bonds that can convert into shares of Iberdrola SA, in which it has a stake. ACS said the deal was designed to partially cancel out a derivatives contract it has over Iberdrola SA’s shares and for other financing needs. 

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