Groupe Bruxelles Lambert SA (GBLB) raised 400 million euros ($512 million) in the issuance of convertible bonds for shares of Suez Environnement, the second-largest water company.
The issue has a 3-year maturity with a coupon of 0.125 percent, resulting in a 20 percent premium to Suez Environnement’s share price, the Paris-based utility said today in an e-mailed statement.
GBL remains a shareholder of Suez with a 7.2 percent stake and retains its representatives on Suez’s board of directors, according to the Suez statement. It said Suez provides 91 million people with drinking water and 63 million with wastewater treatment services on five continents.
GDF Suez (GSZ) holds almost a 36 percent stake in Suez.
To contact the reporter on this story: Randall Hackley in Zurich at email@example.com
To contact the editor responsible for this story: Randall Hackley at firstname.lastname@example.org