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Deutsche EuroShop AG Completes Convertible Bond Placement; Issues New Shares

Wednesday, 14 Nov 2012 04:01am EST 

Deutsche EuroShop AG announced that it has completed the placement of senior, unsecured convertible bonds convertible into shares of Deutsche EuroShop AG and of new no-par value registered shares. The placement generated proceeds of approximately EUR 167.7 million. Bonds with a maturity of five years and a total principal amount of EUR 100 million were placed with qualified investors. The initial conversion price has been set by way of an accelerated bookbuilding process at EUR 35.10 with a coupon of 1.75% p. a., payable semi-annually in arrears. The Bonds were issued at 100% of their principal amount of EUR 100,000.00 each and can be converted based on the initial conversion price and the terms and conditions of the Bonds into a total of 2,849,003 shares of Deutsche EuroShop AG. Additionally, 2,314,136 New Shares with entitlement to dividends as from January 1, 2012 were placed with qualified investors for cash by way of a concurrent accelerated bookbuilding process. The placement price was EUR 29.25 per New Share, equal to the reference price of the Bonds. With the implementation of the capital increase, Deutsche EuroShop AG will increase its registered share capital from EUR 51,631,400.00 by EUR 2,314,136.00 to EUR 53,945,536.00. 

Company Quote

-0.255 -0.70%
11:35am EDT