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6 months ago
BRIEF-grammer to issue mandatory convertible bond in nominal amount of EUR 60 mln
February 14, 2017 / 7:00 AM / 6 months ago

BRIEF-grammer to issue mandatory convertible bond in nominal amount of EUR 60 mln

Feb 14 (Reuters) - Grammer AG:

* To issue a mandatory convertible bond in a nominal amount of 60 million euros ($63.73 million) to strategic partner

* Mandatory convertible bond will be convertible into shares of company equivalent to approximately 9.2 percent of its share capital

* Conversion price amounts to 56.4734 euros while bond has a coupon of 1.625 percent

* Will be using proceeds from issue to finance its strategic growth in Germany as well as internationally and for general company purposes Source text for Eikon: Further company coverage: ($1 = 0.9414 euros) (Gdynia Newsroom)

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