Amer Group to redeems its 1993 convertible subordinated bonds
1999-12-01, 09:43
Amer Group Plc will pay back the remaining of the total convertible subordinated bonds of USD 75 million issued in 1993. The current amount of the loan outstanding is USD 31.82 million, representing a total of 1,430,877 Amer Group A shares, i.e. 5.9% of the number of shares and voting rights currently in issue. The date of redemption is 11 January 2000.
The convertible subordinated bonds carry an annual coupon of 6.25%. The period of conversion commenced on 26 July 1993 and was scheduled to expire on 8 June 2003. The conversion price is FIM 122.85 a share. In determining the conversion price, the USD-denominated bonds are translated into Finnish markka at a fixed rate of FIM 5.5243. The loan has been listed on the London Stock Exchange.
Based on the terms of the loan, the Company has had the right to prepay the bonds as of 6 July 1998 at their principal amount. The bondholders, in case of call for redemption, have the right to convert their bonds up to the close of business on the seventh day before the date fixed for redemption.
AMER GROUP PLC
Communications Department
Marja-Leena Simola
Vice President, Communications
Tel. +358 9 7257 8306
Fax +358 9 791 385
E-mail marja-leena.simola@amer.fi
For further information, please contact:
Mr. Pekka Paalanne, Senior Vice President & CFO, Tel. +358 9 7257 8212
Mr. Jari Melgin, Corporate Treasurer, Tel. +358 9 7257 8233
The convertible subordinated bonds carry an annual coupon of 6.25%. The period of conversion commenced on 26 July 1993 and was scheduled to expire on 8 June 2003. The conversion price is FIM 122.85 a share. In determining the conversion price, the USD-denominated bonds are translated into Finnish markka at a fixed rate of FIM 5.5243. The loan has been listed on the London Stock Exchange.
Based on the terms of the loan, the Company has had the right to prepay the bonds as of 6 July 1998 at their principal amount. The bondholders, in case of call for redemption, have the right to convert their bonds up to the close of business on the seventh day before the date fixed for redemption.
AMER GROUP PLC
Communications Department
Marja-Leena Simola
Vice President, Communications
Tel. +358 9 7257 8306
Fax +358 9 791 385
E-mail marja-leena.simola@amer.fi
For further information, please contact:
Mr. Pekka Paalanne, Senior Vice President & CFO, Tel. +358 9 7257 8212
Mr. Jari Melgin, Corporate Treasurer, Tel. +358 9 7257 8233