HSBC is the bookrunner of a European equity-linked issue for the first time in 18 months as it led a $243m (€217m) convertible for EMI Group, the UK music company, alongside BNP Paribas and JP Morgan.

The last time HSBC led a European convertible bond was in April 2002 when its French arm, HSBC CCF, managed a €570m ($512m) issue for Accor, the French hotel chain with Deutsche Bank and SG. The bond had an unusual structure as a third of its nominal value could be redeemed in three separate years to allow the company to control the dilution of its shares.

Shanny Basar

BNP Paribas

JP Morgan

HSBC

Citigroup

Deutsche Bank

Morgan Stanley

Royal Bank of Scotland

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HSBC wins role on EMI $243m convertible

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