12th Nov 2013 15:39
LONDON (Alliance News) - Balfour Beatty PLC Tuesday announced the final terms of its offering of GBP252.7 million in senior, unsecured convertible bonds due in 2018.
The infrastructure services company said the bonds will have a coupon of 1.875% per year payable semi-annually and the initial conversion price has been set at GBP3.6692.
The settlement is expected to take place on or around December 3.
The company said it is taking advantage of current favourable convertible market conditions in order to diversify its funding sources.
Balfour Beatty shares were down 1.9% to 278.1 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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