ASOS PLC - online retailer - Launches by its wholly owned subsidiary Cornwall (Jersey) Ltd an offering of GBP500 million of senior unsecured guaranteed convertible bonds due 2026. The net proceeds will provide ASOS with additional flexibility to continue to invest behind its global growth strategy, it says, as well as refinancing the acquisition of Topshop brands completed in February. The bonds are expected to carry a coupon of between 0.5% and 1.0% per annum payable semi-annually.
Current stock price: 5,590.00 pence, down 3.4% on Thursday
Year-to-date change: up 17%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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ASOS (ASC)