BERLIN, March 9 (Reuters) - German foundation RAG Stiftung announced plans on Thursday to issue bonds convertible into around 2.7 to 2.8 percent of shares in diversified chemicals maker Evonik.
It said it would offer institutional investors outside the United States 500 million euros ($527 million) worth of senior unsecured bonds due in 2023 in an accelerated bookbuilding. It said it could increase the size of the offering by up to 100 million euros.
Citigroup Global Markets Limited, Deutsche Bank AG and UBS Investment Bank are acting as joint bookrunners.
$1 = 0.9490 euros Reporting by Maria Sheahan, editing by Emma Thomasson