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ASML convertible reaches record 75% premium

Morgan Stanley has led a €330m ($375m) convertible bond for ASML Holding, the Dutch provider of systems for the semiconductor industry, which has achieved a record premium in the European market.

The seven-year subordinated bond priced with a premium of 75%. The previous highest conversion premium for a European convertible bond was 55%, according to Lehman Brothers. Promodes, now Carrefour, the French supermarket chain, issued the bond in 1999.

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