Aug 23 (Reuters) - Tag Immobilien Ag
* dgap-adhoc: tag immobilien ag to issue convertible bonds and simultaneously invite holders of its eur 310 million 5.125% outstanding senior unsecured notes due 2018 (isin: xs0954227210) to offer their notes for purchase for cash
* Says bonds with an aggregated nominal amount of up to eur 277 million and a denomination of eur 100,000 per bond will be convertible into up to 14.6 million newly issued or existing tag bearer shares with no par value ( “ordinary shares”) or may be repaid in cash
* Says bonds will be issued and redeemed at 100% of their principal amount. Initial conversion premium will be between 30% and 35% above reference share price
* Says settlement is expected to take place on or around september 1, 2017
* Says net proceeds raised from issue of bonds will be used for general corporate purposes including refinancing of existing indebtedness of company Source text for Eikon: Further company coverage: (Frankfurt newsroom)
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