January 12, 2017 / 6:45 PM / 6 months ago

BRIEF-Immofinanz makes conversion offer to bondholders, plans new issue

1 Min Read

Jan 12 (Reuters) - Immofinanz :

* Launches an incentivized conversion invitation to holders of its eur 515.1 million convertible bonds due 2018 and an offering to institutional investors of convertible bonds due 2024 for eur 200 million

* Announces the launch of an invitation to the holders of its eur 515.1 million 4.25% senior unsecured convertible bonds due 2018 to convert such outstanding bonds into ordinary shares of Immofinanz and into ordinary shares of BUWOG or a respective cash settlement for BUWOG shares

* Intends to accept offers for up to 45% of nominal amount of outstanding bonds and reserves right to increases this acceptance quota further

* Conversion offer is intended to allow Immofinanz to further optimize and simplify its capital structure, improve long term financing costs and to reduce overall amount of debt

* Concurrently announces offering to institutional investors of new convertible bonds for up to eur 200 million convertible into Immofinanz shares Further company coverage:

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