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CVC to raise A$60M in convertible notes offer

CVC Ltd is looking to raise A$60 million via an offer of unsecured convertible notes.

The redeemable notes were priced with a floating interest rate equal to the sum of the 90-day Bank Bill Swap Rate plus a margin of 3.75%, according to a June 7 prospectus. The maturity date is June 22, 2023.

The raised capital will be used to boost its diversified and actively managed portfolio of assets, based on what CVC called a "strong flow of investment opportunities within its targeted asset classes."

Proceeds will be substantially invested within six to 12 months of the offer's closing date, the company added.