Cromwell Property sounding out investors on up to EUR 250m CB
21 MAR 2018
Cromwell Property Group [ASX:CMW] is sounding out investors on a potential EUR 200m-EUR 250m convertible bond offer, it is understood.
Credit Suisse spoke to several market participants on Tuesday (20 March) about the potential deal, with a 2.125% coupon at a 12% premium, it is understood.
Terms and structure of the potential deal are still being finalized, this news service was told.
Other banks are also trying to get a piece of the deal, it is understood.
The Brisbane-based real estate company last issued a EUR 150m CB in January 2015 in a deal arranged by Bank of America Merrill Lynch.
Cromwell Property declined to comment.