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Eads To Fund A350 With Bonds To DCX/French Gov.

Fri Dec 08, 2006 4:23 am

Brief fair use except from AFX via Forbes:

PARIS (AFX) - EADS is to fund 5 bln eur of the development programme of its Airbus unit's A350 widebodied jet, which got the go-ahead this week, with a combination of a capital hike and an issue of perpetual bonds, Les Echos reported.

Citing sources close to the matter, the financial daily said around half of the anticipated 10 bln eur investment will be financed through savings generated by the group's existing Power 8 restructuring plan, with the balance coming in equal parts from an issue of new shares and of perpetual subordinated notes.

It said principal shareholders DaimlerChrysler (nyse: DCX - news - people ), Lagardere ScA and the French and German governments have agreed in principle to a capital hike, and that DaimlerChrysler and Lagardere may participate in the operation to preserve their stakes at the current size.
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