Spain's Sol Melia hires Deutsche Bank, Calyon to handle bond placement

Posted on: Thu, 19 Nov 2009 09:45:00 EST


Symbols: DB
Nov 19, 2009 (M2 EQUITYBITES via COMTEX) --
DB | Quote | Chart | News | PowerRating -- 19 November 2009 - Spanish hotel chain Sol Melia (MCE:SOL) said today
it will place up to EUR200m (USD298.5m) in an issue managed by Deutsche
Bank (FRA:DBK) and Calyon.

The initial amount of the bonds, which can be exchanged for common
stock, will make up EUR150m, but may be raised by EUR50m, depending on
the demand.

The bonds will bear a fixed annual coupon of between 4.25% and 5%
payable twice a year.

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