DGAP-News: TAG Immobilien AG announces cancellation and early redemption of EUR30 million convertible bond 2010/2015
(firmenpresse) - DGAP-News: TAG Immobilien AG / Key word(s): Miscellaneous
TAG Immobilien AG announces cancellation and early redemption of EUR30
million convertible bond 2010/2015
18.10.2013 / 08:00
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PRESS RELEASE
TAG Immobilien AG announces cancellation and early redemption of EUR30
million convertible bond 2010/2015
Hamburg (18 October 2013) - TAG Immobilien AG, Hamburg, ('TAG' or the
'Company' in the following) issued a five-year EUR30 million convertible
bond (ISIN DE000A1ELQF0 - WKN A1ELQF) (also 'convertible issue' in the
following) in May 2010, which matures in May 2015 and carries an interest
rate of 6.375%. TAG intends to cancel this convertible bond prematurely
effective 2 December 2013 and to demand early repayment, as less than 20%
of the total face value of the convertible bond is still outstanding. The
cancellation and notice of repayment and conversion will be published in in
the Bundesanzeiger / Federal Gazette of 18 October 2013. All bondholders
have a final opportunity to exercise their conversion rights in accordance
with the Terms and Conditions, during the exercise period from 12 November
2013 to 2 December 2013. The Company expects that most holders of the
convertible bond will make use of this opportunity, since the conversion
price is 5.0263 EUR, while TAG shares are currently priced at 8.52 EUR per
share. For bondholders who do not exercise their conversion rights, the
convertible bonds will be redeemed 100 %, plus accrued interest through 2
December 2013. With this early cancellation, the Company lessens the
expenses associated with administering the bond until its maturity date;
reduces its liabilities; and continues the redemption of convertible bonds
initiated in mid-2013.
Disclaimer
This document does not constitute an offer to sell or an invitation to make
a bid for the purchase or subscription of securities of TAG Immobilien AG.
This document does not constitute an offer to sell securities in the United
States of America, Canada, Australia, Japan or other jurisdictions in which
an offer is subject to statutory restrictions.
Press enquiries:
TAG Immobilien AG
Head of Investor&Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390
pr(at)tag-ag.com
End of Corporate News
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18.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 390
E-mail: ir(at)tag-ag.comInternet: http://www.tag-ag.com
ISIN: DE0008303504, XS0954227210
WKN: 830350, A1TNFU
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
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235157 18.10.2013
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Datum: 18.10.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 307025
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Kategorie:
Business News
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