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BRIEF-Orpar places EUR 200 mln zero-coupon bond exchangeable for Rémy Cointreau shares
June 14, 2017 / 6:42 AM / 3 months ago

BRIEF-Orpar places EUR 200 mln zero-coupon bond exchangeable for Rémy Cointreau shares

June 14 (Reuters) - ORPAR

* SAID ON TUESDAY IT SUCCESSFULLY PLACED ZERO COUPON BONDS EXCHANGEABLE FOR RÉMY COINTREAU SHARES DUE JUNE 2024 FOR A NOMINAL AMOUNT OF EUR 200 MILLION

* NEW BONDS WILL BE ISSUED AT PAR AND WILL HAVE A EUR 100,000 PAR VALUE

* IMPLIED EXCHANGE PRICE OF THE NEW BONDS REPRESENTS A PREMIUM OF 40% OVER THE REFERENCE PRICE1 OF RÉMY COINTREAU SHARES

* NEW BONDS WILL BE REPAID ON JUNE 20TH, 2024 IN CASH AT A REPAYMENT PRICE OF 101.76% OF THE PRINCIPAL AMOUNT, IMPLYING AN ANNUAL GROSS YIELD TO MATURITY OF 0.25%

* HOLDERS OF NEW BONDS WILL BE ENTITLED TO REQUIRE EARLY REDEMPTION OF THEIR BONDS ON THE FIFTH ANNIVERSARY OF THEIR ISSUE AT A REPAYMENT PRICE OF 101.26%

* APPROXIMATELY 100% OF OUTSTANDING EXCHANGEABLE BONDS DUE 2019 ORIGINALLY ISSUED HAVE BEEN OFFERED BY THEIR HOLDERS IN THE CONTEXT OF THE REPURCHASE

* REPURCHASE PRICE HAS BEEN SET AT EUR 121,570.54 PER OUTSTANDING BOND

* SETTLEMENT OF THE REPURCHASE IS EXPECTED TO OCCUR ON JUNE 20TH, 2017

Further company coverage: (Gdynia Newsroom)

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