Four Seasons Down on Debt Deal

Investors checked out of Canadian hotel group Four Seasons (FS Quote) Monday after the company announced a $200 million convertible debt offering.

In reaction to the announcement, shares of the upscale Canadian hotel chain fell 1.2% as investors fear the dilutive affect of the company's fund raising efforts. The company has a market cap of $2.06 billion.

In a brief statement, Four Seasons said the senior notes could be converted into limited voting shares in "specific circumstances," but did not specify what the funds would be used for. ...