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Mittel SpA Announces Voluntary Public Exchange Offer on the Company's Ordinary Shares with Public Offering for Subscription of Bonds


Tuesday, 19 Mar 2013 02:30am EDT 

Mittel SpA announced that on March 18, 2013 the Board of Directors approved a voluntary public exchange offer on the Company's ordinary shares with consideration in Mittel bonds and the promotion of a public offering for subscription of the bonds. The bonds issuance will be for approximately EUR 50 million which can be increased up to approximately EUR 100 million. The public exchange offer will consist of maximum 17,059,155 ordinary shares, equal to approximately 19.4% of the share capital of the Company. For each 1 ordinary share subscribed and acquired, will correspond 1 bond issued by Mittel with par value of EUR 1.75 for a total nominal value maximum of approximately EUR 29.9 million. The bond issuance has a length of six years from the issuance date. The bond issuance will consist of maximum 57,059,155 bonds with par value of EUR 1.75. The Shareholders' Meeting called to adopt the necessary deliberations to promote the public exchange offer will take place by April 2013 and the completion by September 2013. 

Company Quote

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8:59am EDT