DO & CO talks €100 million five-year convertible notes to yield 1.5%-2%, up 30%-35%

By Abigail W. Adams

Portland, Me., Jan. 21 – DO & CO AG plans to price €100 million of five-year convertible notes on Thursday at par with price talk for a coupon of 1.5% to 2% and an initial conversion price of 30% to 35%, according to a market source.

Jefferies is the global coordinator and a bookrunner for the Regulation S offering.

Erste Group AG and Hauck & Aufhauser are also joint bookrunners.

The bonds are non-callable until March 8, 2024 and then subject to a 130% hurdle.

They are putable upon a fundamental change.

The notes will be settled in shares with cash paid in lieu of fractional shares.

Proceeds will be used for general corporate purposes.

The bonds will be traded on the Vienna MTF operated by the Vienna Stock Exchange.

DO & CO is a Vienna-based catering company.

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