Eurotunnel launches 1.7-billion-euro capital increase

21st February 2008, Comments 0 comments

Eurotunnel launched the first stage of its 1.7 billion euros (2.5 billion dollars) capital increase.

     PARIS, February 21, 2008  - Eurotunnel, the operator of the cross-channel
rail tunnel linking France and Britain, on Wednesday launched the first stage
of its 1.7 billion euros (2.5 billion dollars) capital increase.
   The first offer of subordinated deferred equity securities (SDES), which
can be exchanged for shares, is worth 800 million euros.
   This issue is already fully underwritten.
   The second stage of the capital increase will involve the allotment of free
share warrants to shareholders, entitling them to subscribe for new ordinary
shares.
   This second stage will take place "as soon as possible based on market
condition," Eurotunnel said.

AFP 

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