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BRIEF-French group Korian announces bond issues
June 28, 2017 / 6:03 AM / 5 months ago

BRIEF-French group Korian announces bond issues

June 28 (Reuters) - Korian:

* Korian launches an offering of unsubordinated undated bonds convertible into new shares and/or exchangeable for existing shares (ODIRNANE) for an amount of approximately €200 million

* Also announces that it will sign today an issue of an undated hybrid unlisted bond

* Total amount of the Bonds and the Hybrid Instrument will stand at approximately € 300 million

* Bonds will be issued at par and their nominal value will represent a conversion premium comprised between 30.0% and 35.0% over the Company’s reference share price

* From the issue date until December 31st, 2022, the Bonds will bear interest at a nominal annual rate comprised between 2.50% and 3.25% payable semi-annually in arrear on January 1st and July 1st of each year

* From January 1st, 2023, the Bonds will bear interest at a rate expressed on an annual basis equal to the 6-month Euribor rate increased by 900 basis points, payable semiannually in arrear on each Interest Payment Date and, as the case may be, for the first time on July 1st, 2023, subject to any interest payment suspension

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