November 30, 2016 / 7:25 AM / in a year

BRIEF-Be Semiconductor Industries announces 100 million euros senior unsecured convertible bond offering

Nov 30 (Reuters) - Be Semiconductor Industries NV :

* Be Semiconductor Industries NV announces 100 million euros ($106.24 million) senior unsecured convertible bond offering

* Bonds due 2023, with an option to increase offering up to 125 million euros

* Net proceeds of offering will be used to continue development of next generation advanced packaging technologies and to further expand company’s Asian manufacturing operations

* In addition, balance of net proceeds may be used for general corporate purposes including debt retirement, acquisitions and share buybacks

* Bonds will be convertible into Besi ordinary shares (‘shares’) and are expected to carry a coupon in range of 2.50 pct to 3.00 pct per annum, payable semi-annually on 2 June and 2 December each year

* The bonds are also expected to carry a conversion premium of 32.5 pct to 40.0 pct over volume weighted average price of shares quoted on Euronext Amsterdam between opening of trading today and pricing of offering

* Bonds will be redeemed at their principal amount on or around Dec 2, 2023 Source text for Eikon: Further company coverage: ($1 = 0.9413 euros) (Gdynia Newsroom)

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