(Bloomberg) -- Fortis is seeking as much as 2 billion
euros ($2.8 billion) in a sale of bonds, the first step in
financing its part of a bid for ABN Amro Holding NV in what would
be the biggest financial-services takeover.
Fortis is selling notes that may be swapped for securities
convertible into stock, according to a statement from the company,
based in Brussels and the Dutch city of Utrecht. The notes would
automatically become stock three years after Fortis issues as much
as 15 billion euros of new equity in a rights offering. The debt
would be repaid at face value in 2008 if new shares aren't issued.
Read more at Bloomberg Bonds News
euros ($2.8 billion) in a sale of bonds, the first step in
financing its part of a bid for ABN Amro Holding NV in what would
be the biggest financial-services takeover.
Fortis is selling notes that may be swapped for securities
convertible into stock, according to a statement from the company,
based in Brussels and the Dutch city of Utrecht. The notes would
automatically become stock three years after Fortis issues as much
as 15 billion euros of new equity in a rights offering. The debt
would be repaid at face value in 2008 if new shares aren't issued.
Read more at Bloomberg Bonds News
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