02.06.2015
Salzgitter AG DE0006202005
DGAP-News: Salzgitter AG: Salzgitter AG prices convertible bond offering
DGAP-News: Salzgitter AG / Key word(s): Issue of Debt
Salzgitter AG: Salzgitter AG prices convertible bond offering
02.06.2015 / 13:08
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
OF AMERICA, CANADA, ITALY, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH SUCH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW.
This announcement is not a prospectus and does not constitute an offer of
securities for sale in any jurisdiction, including in or into the United
States of America, Canada, Italy, Australia, South Africa or Japan or any
other jurisdiction in which offers or sales of the securities would be
prohibited by applicable law. Neither this announcement nor anything
contained herein shall form the basis of, or be relied upon in connection
with, any offer or commitment whatsoever in any jurisdiction.
Salzgitter prices convertible bond offering
Issue size: approx. EUR 168 million
Maturity: 7 years
Coupon: 0.0%
Conversion price: EUR 47.3170
Salzgitter AG announces the successful placement of approx. EUR 168 million
senior, unsecured convertible bonds (the "Bonds") only with international
institutional investors outside the United States of America, Canada,
Australia, Italy, South Africa and Japan or any other jurisdiction in which
offers or sales of the securities would be prohibited by applicable law.
The Bonds have been oversubscribed several times. With this transaction
Salzgitter AG diversifies its funding sources and intends to use the
proceeds from the sale of the convertible bonds for general corporate
purposes.
The Bonds will be issued by Salzgitter Finance B.V. (the "Issuer"), a
wholly-owned Dutch subsidiary of Salzgitter AG, will be guaranteed by
Salzgitter AG, and will be convertible into Salzgitter AG shares.
The Bonds will have a maturity of seven years. Holders of the Bonds will be
entitled to require an early redemption of their Bonds on the fifth
anniversary of their issue, at the principal amount. The Issuer will be
entitled to redeem the Bonds from 5 June 2018 in accordance with the terms
and conditions if the stock exchange price of the Salzgitter AG shares
exceeds 130% of the then applicable conversion price over a certain time
period. The Bonds will bear no interest and will be issued and redeemed at
100% of their principal amount. The initial conversion price has been set
at EUR 47.3170, which represents a conversion premium of 45% above the
reference price of EUR 32.6324. The pre-emptive rights of shareholders of
Salzgitter AG to subscribe to the Bonds are excluded.
Settlement is expected to take place on or around 5 June 2015.
Salzgitter AG intends to list the Bonds on the Open Market (Freiverkehr)
segment of the Frankfurt Stock Exchange.
HSBC acted as Global Coordinator and Joint Bookrunner, DZ BANK, Landesbank
Baden-Württemberg (LBBW) and Société Générale Corporate & Investment
Banking acted as Joint Bookrunners.
Disclaimer
The information contained in this announcement is for background purposes
only and does not purport to be full or complete. No reliance may be placed
for any purpose on the information contained in this announcement or its
accuracy or completeness. No prospectus will be prepared in connection with
the offering of the securities referred to herein. The securities referred
to herein may not be offered to the public in any jurisdiction in
circumstances which would require Salzgitter AG or any of their respective
affiliates, or any person acting on behalf of thereof, to prepare or
register any prospectus or offering document relating to the securities
referred to herein in such jurisdiction.
This announcement is not for publication or distribution, directly or
indirectly, in or into the United States. The distribution of this
announcement and the offer and sale of the securities referred to herein
may be restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein comes
should inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.
This announcement does not contain or constitute or form part of, and
should not be construed as, an offer or invitation to sell, or the
solicitation of an offer to buy or subscribe for, any securities to any
person in the United States, Italy, Australia, Canada, South Africa or
Japan or in any jurisdiction to whom or in which such offer or solicitation
is unlawful. The securities referred to herein have not been and will not
be registered under the U.S. Securities Act of 1933, as amended or the laws
of any state within the United States or under the applicable securities
laws of Italy, Australia, Canada, South Africa or Japan, and may not be
offered or sold in the United States, unless registered under the
Securities Act or offered and sold in a transaction exempt from, or not
subject to, the registration requirements of the Securities Act. Subject to
certain exceptions, the securities referred to herein may not be offered or
sold in Italy, Australia, Canada, South Africa or Japan or to, or for the
account or benefit of, any national, resident or citizen of Italy,
Australia, Canada, South Africa or Japan. There will be no public offer of
the securities referred to herein in the United States, Italy, Australia,
Canada, South Africa or Japan.
The offer referred to herein when made in member states of the European
Economic Area ("EEA") which have implemented the Prospectus Directive
(each, a "relevant member state"), is only addressed to and directed at
persons who are "qualified investors" (as defined in the Prospectus
Directive ("Qualified Investors")). For these purposes, the expression
"Prospectus Directive" means Directive 2003/71/EC (and amendments thereto,
including the 2010 PD Amending Directive, to the extent implemented in a
relevant member state), and includes any relevant implementing measure in
the relevant member state and the expression "2010 PD Amending Directive"
means Directive 2010/73/EU.
In the United Kingdom, this announcement is directed only at, Qualified
Investors (i) who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order")
or (ii) who fall within Article 49(2)(a) to (d) of the Order, and (iii) to
whom it may otherwise lawfully be communicated (all such persons together
being referred to as "relevant persons"). This announcement must not be
acted on or relied on (i) in the United Kingdom, by persons who are not
relevant persons, and (ii) in any member state of the European Economic
Area other than the United Kingdom, by persons who are not Qualified
Investors.
This announcement may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will" or "should" or, in each case, their negative or
other variations or comparable terminology, or by discussions of strategy,
plans, objectives, goals, future events or intentions. Forward-looking
statements may and often do differ materially from actual results. Any
forward-looking statements reflect Salzgitter AG's current view with
respect to future events and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to the Salzgitter
Group's business, results of operations, financial position, liquidity,
prospects, growth or strategies. Forward-looking statements speak only as
of the date they are made.
Salzgitter AG and its respective affiliates expressly disclaims any
obligation or undertaking to update, review or revise any forward looking
statement contained in this announcement whether as a result of new
information, future developments or otherwise.
No reliance may or should be placed by any person for any purposes
whatsoever on the information contained in this announcement or on its
completeness, accuracy or fairness. The information in this announcement is
subject to change.
The date of admission of the convertible bonds and the shares issued upon
conversion to trading may be influenced by things such as market
conditions. There is no guarantee that admission will occur and you should
not base your financial decisions on Salzgitter AG's intentions in relation
to admission at this stage. Acquiring investments to which this
announcement relates may expose an investor to a significant risk of losing
the entire amount invested. Persons considering making such investments
should consult an authorised person specialising in advising on such
investments. This announcement does not constitute a recommendation
concerning the convertible bond offering. The value of shares can decrease
as well as increase. Potential investors should consult a professional
advisor as to the suitability of the convertible bonds offering for the
person concerned.
Contact:
Markus Heidler
Head of Investor Relations
Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter
Phone +49 5341 21-6105
Fax +49 5341 21-2570
E-Mail [email protected]
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02.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter
Germany
Phone: +49 5341 21-01
Fax: +49 5341 21-2727
E-mail: [email protected]
Internet: www.salzgitter-ag.de
ISIN: DE0006202005
WKN: 620200
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart
End of News DGAP News-Service
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