Swedish Export €50 million exchangeable, into Novartis, talked to yield 0.25%, up 21-24%

By Ronda Fears

Nashville, July 1 - Swedish export launched on Tuesday €50 million of six-year exchangeables, which convert into Novartis AG shares, talked to yield 0.25% with a 21% to 24% initial conversion premium.

UBS Investment Bank is lead manager of the Regulation S deal, which is scheduled to price Wednesday. Banca del Gottardo is co-manager of the deal.

The senior unsecured notes will be noncallable for four years, then with a 150% hurdle.

© 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.