UK investment firm Helical Bar reached its upper target in Wednesday's bond issue, raising £100 mln (€124 mln) of senior, unsecured guaranteed convertible bonds, due in 2019.
UK investment firm Helical Bar reached its upper target in Wednesday's bond issue, raising £100 mln (€124 mln) of senior, unsecured guaranteed convertible bonds, due in 2019.
The firm's initial target had been £85 mln (€105 mln).
The proceeds will initially be used to repay existing credit lines and may be used at a later date to fund developments and new acquisitions.
The bonds will carry a coupon of 4%, the lower end of expectations, payable semi-annually in arrears.
The conversion price is £4.97 per share, a premium of 35% above the volume weighted average price of the shares on the London Stock Exchange from market open to close of trading yesterday.
JP Morgan Securities and The Royal Bank of Scotland are joint bookrunners.