Euronext has launched a €425 million offering of senior unsecured convertible notes, due 2032.
Each bond will be issued at €100,000, and is expected to have a fixed coupon rate of 1.5% to 2%. These will be convertible to new or existing Euronext shares at an expected conversion price of above 30% to 35% of the reference share price.
Settlement and delivery is expected to take place on 30 May.
Net proceeds from the offering will be allocated to repaying part of a bridge loan facility entered into on 17 April for the acquisition of governance and collaboration software-as-a-service provider Admincontrol. Remaining capital will go towards general corporate purposes.
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