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BRIEF-TAG Immobilien issues 277 mln eur convertible bond
August 23, 2017 / 6:11 AM / 3 months ago

BRIEF-TAG Immobilien issues 277 mln eur convertible bond

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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