Helios talks $250 million six-year convertible notes to yield 2.5%-3.25%, up 35%-40%

By Abigail W. Adams

Portland, Me., March 10 – Helios Towers plc plans to price $250 million of six-year convertible notes after the market close on Wednesday with price talk for a coupon of 2.5% to 3.25% and an initial conversion premium of 35% to 40%, according to a company news release.

Citigroup Global Markets Ltd. and Jefferies International Ltd. are joint global coordinators for the Regulation S offering.

Concurrently with the convertible notes offering, underwriters will conduct a simultaneous placement of shares to facilitate hedging activity.

The bonds will be traded on the Frankfurt Stock Exchange.

Proceeds will be used to fund the group’s growth strategy, including its acquisition of the infrastructure assets of Free Senegal.

Helios is a U.K.-based telecommunications company.

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