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BRIEF-Mittel to issue bonds due 2023 for up to EUR 175 mln
May 16, 2017 / 11:05 AM / 7 months ago

BRIEF-Mittel to issue bonds due 2023 for up to EUR 175 mln

May 16 (Reuters) - MITTEL SPA:

* SAID ON MONDAY THAT BOARD APPROVED TO ISSUE A 2017 - 2023 BOND FOR 99 MILLION EUROS WHICH CAN BE INCREASED TO 124 MILLION EUROS

* IF IT ISSUES 99 MILLION EUROS IN BONDS IT WILL EXERCISE THE VOLUNTARY EARLY REDEMPTION AND LAUNCH A SWAP OFFER ON THE 2013 - 2019 BONDS (2013 BOND)

* THE VOLUNTARY EARLY REDEMPTION ON THE 2013 - 2019 BONDS IS COVERS 50 PCT OF NOMINAL VALUE AND IS AT 102 PCT OF THE NOMINAL PRICE

* THE DISBURSMENT FOR THE EARLY BOND REDEMPTION AMOUNTS TO 51 MILLION EUROS

* THE VOLUNTARY BOND SWAP OFFER ON THE REMAINING 2013 BONDS FOR 51 MILLION EUROS IS AT A 2 PCT PREMIUM ON THE NOMINAL VALUE

* THE MAXIMUM TOTAL AMOUNT OF THE 2017 BOND ISSUE WILL BE 175 MILLION EUROS WITH MATURITY IN SIX YEARS AND A GROSS RETURN RATE OF 3.75 PCT

Source text: reut.rs/2qMkPoB

Further company coverage: (Gdynia Newsroom)

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