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Alcatel-Lucent to raise EUR 1.5 bln with rights issue, bonds

2013-11-04 09:53:00| Telecompaper Headlines

(Telecompaper) Alcatel-Lucent has announced plans to raise fresh capital to strengthen its balance sheet, including a rights issue worth EUR 955 million. Existing shareholders will have the right to buy new shares at EUR 2.10 each, a steep discount to the closing price of EUR 2.97 per share the day before the offering was announced. If the offering is fully subscribed, it will result in the issue of around 460 million new shares, or around a fifth of the current outstanding total. In addition, Alcatel-Lucent announced a high-yield bond offering worth USD 750 million and a new syndicated revolving credit facility of EUR 500 million. The new financing is expected to strengthen the company's equity and provide funding for its ongoing 'Shift Plan' to narrow its operations and restore profitability.

Tags: rights issue eur raise

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