Amsterdam-listed Wereldhave announced on Wednesday that it has successfully priced a EUR 200 mln offering of unsecured convertible bonds due 2015. The issue size was boosted to EUR 230 mln after Barclays Capital exercised a EUR 30 mln increase option granted to it by Wereldhave.
Amsterdam-listed Wereldhave announced on Wednesday that it has successfully priced a EUR 200 mln offering of unsecured convertible bonds due 2015. The issue size was boosted to EUR 230 mln after Barclays Capital exercised a EUR 30 mln increase option granted to it by Wereldhave.
The bonds will be issued at 100% of their principal amount and will have a coupon of 2.875% per annum payable semi-annually in arrear. The shares to be issued upon conversion of the bonds will represent 13% of Wereldhave's currently issued share capital.
The conversion price is EUR 81.10, marking a premium of 12.5% above the volume-weighted average price of Wereldhave's ordinary shares on Euronext Amsterdam on Wednesday.
Wereldhave will use the net proceeds of the offering for general corporate purposes and refinancing of its EUR 200 mln, 2.5% convertible bond due March 2011.
