EANS-Adhoc: conwert Immobilien Invest SE
conwert Immobilien Invest SE sets
terms of convertible bonds
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
20.01.2010
Not for release or publication in, or distribution to, the United States of America, Canada, Japan and Australia or any other jurisdiction in which offers or sales of securities of conwert Immobilien Invest SE are prohibited by applicable law.
conwert Immobilien Invest SE sets terms of convertible bonds
Vienna, 20 January 2010. conwert has successfully completed the placement of convertible bonds (the "Bonds") in an aggregate principal amount of EUR 131 million announced earlier today. In addition, conwert has granted the Joint Bookrunners an over-allotment option of up EUR 19 million (approximately 15% of the offering size).
The coupon of the Bonds has been set at 5.25% p.a., payable semi-annually. The initial exercise price of the Bonds will be EUR 12.06, representing a premium of 32.5% above the volume weighted average price of the conwert shares during the bookbuilding period.
The Bonds will have a maturity of six years. Holders of the Bonds will be entitled to require an early redemption of their Bonds at the principal amount together with accrued interest on the fourth anniversary after the issue date. conwert will use the proceeds from the Offering for general corporate purposes. Due to limited interest of investors at the offered terms, conwert has decided not to repurchase any of its outstanding 1.50% convertible bonds due 2014.
The closing and settlement of the Offering is expected to occur on or around 1 February 2010. conwert intends to apply for the Bonds to be traded on the unregulated Third Market (Multilateral Trading Facility) of the Vienna Stock Exchange.
Barclays Capital, Credit Suisse and JP Morgan acted as Joint Bookrunners and Raiffeisen Centrobank AG acted as Co-Lead Manager of the Offering.
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The information contained herein is not for release or publication in, or distribution to, the United States (as defined below), Canada, Japan and Australia, or any other jurisdiction in which offers or sales of securities of conwert Immobilien Invest SE are prohibited by applicable law.
This press release does not constitute or form part of any offer or solicitation to purchase or subscribe for sale securities of conwert Immobilien Invest SE. No public offer of the Bonds will be made in Austria or any other jurisdiction.
This press release is not being issued in the United States of
America, its territories and possessions, any State of the United
States of America, and the District of Columbia ("United States") and
must not be distributed, directly or indirectly, in or into the
United States. The securities referred to in this press release
(including the Bonds and the shares of conwert Immobilien Invest SE)
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended ("Securities Act"), and may not be offered or
sold in the United States absent an exemption from registration under
the Securities Act. No offer or acceptance to repurchase any existing
bonds will be accepted from the United States of America.This press release is not for general publication, release or distribution in the United Kingdom and may only be distributed in the United Kingdom to persons who (i) are investment professionals falling within article 19(5) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, in its current version (the "Order"), or (ii) are high net worth entities or other persons to whom it may lawfully be communicated falling within article 49(2) (a) to (d) of the Order (all such persons will be referred to as "Relevant Persons" below). Anyone in the United Kingdom who is not a Relevant Person may not act on the basis of this press release or its contents. Any investment or investment activity to which this press release refers is only available to Relevant Persons and is only carried out with Relevant Persons.
From the announcement of the final terms of the Bonds, Credit Suisse, as stabilisation manager, may over-allot or effect transactions with a view to supporting the market price of the Bonds or the existing Shares of conwert Immobilien Invest SE at a level higher than that which might otherwise prevail. Such stabilising, if commenced, may be discontinued at any time and will, in analogous application of Regulation (EC) No. 2273/2003, be brought to an end no later than the earlier of 30 calendar days after the closing date and 60 calendar days after allotment of the Bonds. If commenced, such stabilising may lead to a market price of the Bonds and/or the existing Shares which may be higher than the level that would exist if no such stabilising measures were taken and may indicate to the market a price stability which without such stabilising might not prevail. However, there is no obligation to engage in such stabilisation activities and such stabilisation, if commenced (which may not occur before the final terms of the Bonds have been announced), may be discontinued at any time. Following the end of the stabilisation period, information regarding stabilising activities (including the extent to which stabilisation has taken place, the dates on which the first and last stabilisation trades were executed, and the dates on and price range within which all stabilisation activity took place) will be published in analogous application of Article 9(3) of Regulation (EC) No. 2273/2003.
end of announcement euro adhoc
Further inquiry note:
conwert Immobilien Invest SE,
Peter Sidlo, Head of Corporate Communications,
T +43 / 1 / 521 45-250,
E sidlo@conwert.at
Metrum Communications,
Roland Mayrl,
T +43 / 1 / 504 69 87-331,
E r.mayrl@metrum.at
Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wien / official dealing