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Lucent to issue $1.3bn convertible bond

Lucent Technologies, the US telecoms equipment manufacturer, is launching a $1.3bn (€853m) convertible bond following a busy month for the US convertibles market.

There have been 39 deals raising $11bn in May alone, accounting for nearly half the number of deals this year and a third of issuance volume, according to Dealogic, the investment banking research firm.

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