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Alcatel, Nokia Among Convertibles That May Gain on M&A: Barclays 2013-11-06 10:23:43.633 GMT
By Gaurav Panchal Nov. 6 (Bloomberg) -- Barclays highlights convertibles with the greatest potential outright return from a change of control. * Return on some convertibles exceeds that of the comparable equity bid premium, Barclays says in Nov. 4 note * Survey follows 3 bids on convertible names in recent weeks: GSW, Celesio, Alliance Oil * Included in list: * Frontline 4.5% 2015 * Petropavlovsk 4% 2015 * Alcatel 4.25% 2018 * Ingenico 2.75% 2017 * Nokia 5% 2017 * Deutsche Post 0.6% 2019 * Melia Hotels 4.5% 2018 * Shoprite 6.5% 2017 * Seadrill 3.375% 2017 * Essar 4.25% 2016 * CRITERIA: Barclays assumes equity bid premium of 20%, horizon of 6-mo., includes interim coupons, excludes bonds that are close to their call trigger
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--Editor: Charles Daly
To contact the reporter on this story: Gaurav Panchal in London at +44-20-7392-0511 or gpanchal2@bloomberg.net