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BN 11/12 07:03 *BALFOUR BEATTY REPORTS OFFERING OF CONV. BONDS DUE 2018 BN 11/12 07:03 *BALFOUR BEATTY REPORTS OFFERING OF ABOUT £250M OF CONV. BONDS
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Balfour Beatty Offers GBP250m of Convertibles, 9.9% of Capital 2013-11-12 07:13:48.308 GMT
By Gaurav Panchal Nov. 12 (Bloomberg) -- Says offering of ~GBP250m of senior, unsecured convertible Bonds due 2018 due to favorable market conditions, to lock in long-term financing at attractive terms, provide additional liquidity. * Shares underlying bonds represent ~9.99% of co.’s issued share capital immediately prior to offering * Maturity date Dec. 3, 2018, issued at par, coupon 1.875% to 2.375% pa, payable semi-annually in arrear * Convertible into ordinary shares of at initial conversion price, set initially at premium of between 30% and 35% above the VWAP of shares between launch and pricing * Statement:{NSN MW526N3HHEDC <GO>}
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To contact the editor responsible for this story: Gaurav Panchal at +44-20-7392-0511 or gpanchal2@bloomberg.net