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Best UK mortgage deals of the week

As Bank of England holds interest rates, here's what high street banks are offering home buyers

Carillion launches 150-180 mln-pound convertible bond sale

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 12 (Reuters) - British support services and construction company Carillion (Other OTC: CIOIF - news) said it had launched a 150 million-pound ($236 million) convertible bond offer on Friday to help fund its recent acquisitions and repay existing loans.

The company said the bonds are expected to carry a coupon of between 1.875 and 2.50 percent per annum, which will be payable semi-annually.

It also added that it may increase the offering by 30 million pounds before pricing.

The funds raised will be used to repay borrowing under Carillion's revolving credit facility, funding recent acquisitions and for general corporate purposes.

BNP Paribas (Xetra: 887771 - news) and Morgan Stanley (Xetra: 885836 - news) will act as joint global coordinators and joint book runners for the sale. ($1 = 0.6359 pounds) (Reporting by Li-mei Hoang; Editing by Greg Mahlich)