The banking syndicate on Eurotunnel's rights issue is to seek outside investors for 30% of the â¬915m ($1.4bn) offering by the Channel Tunnel operator, despite selling more new shares than expected to existing shareholders.
The issue is the second stage of a â¬1.7bn capital-raising plan intended to buy back a tranche of convertible notes held by junior creditors before they convert into new shares in order to limit shareholder dilution.
