Euronav Offers to Exchange Outstanding 6.5pct Convertible Bonus

Euronav

Euronav Launches Offer to Exchange Outstanding 6.50% Convertible Bonds for new Convertible Bonds with Extended Maturity

Euronav NV announced today the launch of an invitation to current bondholders to exchange any and all outstanding 6.50% convertible bonds due in January 2015 for new 6.50% convertible bonds due in January 2018.

Through the Exchange Offer the company wishes to extend the medium term debt repayment obligations by extending the maturity date by 3 years in return for a more attractive conversion price. The conversion price will be EUR 5.65. At the time of the early voluntary conversion an additional number of shares will be made available at the same price as the conversion price to compensate for the unpaid coupons of the first 4 years. 

The Exchange Offer is being conducted in accordance with the terms and conditions set forth in an exchange offer memorandum dated 31 January 2013 (the “Exchange Offer Memorandum”). The Exchange Offer is only made, and copies of the offering documents will only be made available (subject to applicable offer restrictions), to holders of Existing Convertible Bonds in Belgium and to holders of Existing Convertible Bonds who qualify as qualified investors in the European Economic Area, Switzerland and Monaco.

Application is intended to be made for the admission of the New Convertible Bonds to the official list of the Luxembourg Stock Exchange and for the admission of the New Convertible Bonds to trading on the Luxembourg Stock Exchange’s Euro MTF Market.

 

Source: Euronav

 

 

Shortlink:

Posted by on February 1, 2013. Filed under All news, Business, Company News, World. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.