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Colonial seeks approval for bonds exchangeable into FCC shares - report


Published : Mon, 19 Nov 2007 08:57
By : Agencies
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MADRID (Thomson Financial) - Inmobiliaria Colonial SA is seeking shareholder approval for a bond issue exchangeable into shares of Fomento de Construcciones y Contratas SA or Societe Fonciere Lyonnaise (SFL), Expansion reported, citing unnamed company sources.

Colonial holds 15 pct of FCC and 84 pct of SFL.

The operation is part of a total 4 bln eur planned debt issue over a maximum of five years aimed at restructuring current debt and obtaining increased financing for expansion, the newspaper said.

tfn.europemadrid@thomson.com

kd1/tr/rfw

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