Euronav Goes with Bonds

Last Friday, Euronav NV announced an offering of $200 million fixed rate senior unsecured convertible bonds due in 2015. By the end of the day, bonds with a value of $125 million were placed with institutional investors outside the United States by HSBC, acting as lead, ING Belgium, as co-manager, and Clarkson Investment Services, as placing agent.

The bonds were priced at 100% to yield 6.5%. The initial conversion price is EUR 16.28375 per share and is set at a premium of 25% to the VWAP of Euronav’s shares on September 3rd. If all the bonds were to be

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