Airbus issues first convertible bond up to 500 million euros
PARIS (Reuters) - European aerospace and defence company Airbus Group said it launched its first convertible bond on Friday, worth as much as 500 million euros and due in 2022.
"The net proceeds of the bond issue will be used for general corporate purposes and will help optimise the financing costs of the company and its subsidiaries, and diversify its funding sources," Airbus said in a statement.
The bonds will bear a coupon of zero percent. The initial conversion price is expected to be set at a premium of between 47.5 percent and 62.5 percent above the reference share price.
Societe Generale is acting as sole global coordinator and joint bookrunner, and BNP Paribas and HSBC are acting as joint bookrunners, Airbus said.
(Reporting by James Regan; Editing by Dominique Vidalon)
