LONDON (Alliance News) - Vodafone Group PLC on Friday announced the determination of the initial conversion price of two types of its bonds.
The telecommunications firm determined the initial conversion price as GBP1.3505 of the GBP1.72 billion 1.2% subordinated mandatory convertible bonds due 2021 and GBP1.72 billion 1.5% subordinated mandatory convertible bonds due 2022.
This represents an initial conversion ratio of 74,046.64939 shares per GBP100,000 principal amount of the bonds.
The FTSE 100-listed company issued both types of bonds on Tuesday, raising GBP3.44 billion to fund the acquisition of European assets of US cable television provider Liberty Global.
Vodafone shares closed up 0.9% at 136.80 pence on Friday in London.