REC - successful completion of USD 110 million new convertible bond issue
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
Sandvika, August 13, 2013: Renewable Energy Company ASA (REC) has today
successfully closed an offering of convertible bonds of USD 110 million (NOK
643 million) maturing on September 13, 2018. The offering was oversubscribed.
The bonds are convertible into ordinary REC shares with a strike price of NOK
3.60, and have quarterly coupon payments of 6.5% p.a.
REC has also bought back EUR 79.05 million (NOK 618 million) of the existing
convertible bond maturing in 2014 at par value. Out of the bought back amount,
NOK 185 million will be settled in cash and the remainder through the issuance
of USD 74.00 million (NOK 433 million) in the new 2018 convertible bond. After
the transaction, the remaining principal value of the convertible bond maturing
in 2014 is EUR 81.20 million (NOK 635 million).
The completion of the convertible bond issue is conditional upon approval by an
Extraordinary General Meeting which is expected to be held on or about September
6, 2013.
The settlement date for the convertible bond issue and exchange offer is
expected on or about September 13, 2013.
With reference to the stock exchange notice of August 12, 2013, please see an
updated presentation summarizing the convertible bond issue and exchange offer
and the proposed conditional bond repurchase offers.
For further information, please contact:
Mikkel Tørud,
SVP Investor Relations & Business Development, REC
Telephone: +47 976 99 144
Email: mikkel.torud(at)recgroup.com
About REC
REC is a leading global provider of solar electricity solutions. With nearly two
decades of expertise, we offer sustainable, high-performing products, services
and investment opportunities for the solar and electronics industries. Together
with our partners, we create value by providing solutions that better meet the
world's growing electricity needs. Our 2,200 employees worldwide generated
revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD
1.3 billion.
To see more of what REC can offer, visit www.recgroup.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Completed CB issue:
http://hugin.info/136555/R/1722590/573933.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Renewable Energy Corporation ASA via Thomson Reuters ONE
[HUG#1722590]
Unternehmensinformation / Kurzprofil:
Datum: 13.08.2013 - 08:51 Uhr
Sprache: Deutsch
News-ID 287022
Anzahl Zeichen: 3263
contact information:
Town:
Sandvika
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 204 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"REC - successful completion of USD 110 million new convertible bond issue"
steht unter der journalistisch-redaktionellen Verantwortung von
Renewable Energy Corporation ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
