adidas to redeem all €400 million 2.5% convertible bonds due 2018

By Devika Patel

Knoxville, Tenn., Oct. 7 - adidas AG announced it will redeem all €400 million of its 2.5% convertible bonds due 2018 at par plus interest to, but excluding, Nov. 23, the redemption date.

Investors may convert their bonds prior to Nov. 9. Given the current share price, the company expects the majority of bondholders to convert the bonds.

If all investors elect to convert, the company will issue 15,684,313 shares.

adidas is a Herzogenaurach, Germany, producer of sportswear and sports equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.