Prelios completes debt restructuring with convertible bond

Newswire

MILAN, Aug 26 (Reuters) - Italian property firm Prelios issued on Monday a 233.5 million euro ($312.3 million) convertible bond, the last step in a recapitalisation that has turned tyremaker Pirelli and the country's two largest banks into leading shareholders. Prelios, hit by writedowns in a recession-hit home market, approved a turnaround plan in May to restructure 561 million euros in debt that included the bond as well as two capital increases worth a total of 185 million ...

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