Dong Energy is raising €700 million in a sale of bonds, The Wall Street Journal reports. The Danish energy company’s new bonds will have a 7.75% coupon rate and will be due to mature on June 1, 3010.
The Frederica-based company plans to use the proceeds from sale to refinance existing debt, including hybrid capital and for general corporate purposes. Barclays Capital, Deutsche Bank, JP Morgan Chase and Societe Generale have been named as joint-lead managers on the deal.
Click here for the story from The Wall Street Journal.