Steria, Soderi boards OK issue of hybrid convertibles

By Jennifer Chiou

New York, Nov. 7 - Steria Group and Soderi Finance said that their boards have authorized an issue of hybrid subordinated convertible bonds.

The objective of the issue is to optimize earnings per share, according to a news release.

The issue is part of an equity refinancing expected before the end of 2007, and it will replace part of a planned capital increase.

The companies added that the total size of the issue will be about 50% of the acquisition price of Xansa.

Steria, an end-to-end internet technology services provider, has offices in France, the United Kingdom and other countries. Soderi is a Paris-based housing company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.