By Jennifer Chiou
New York, Nov. 16 - ECA SA announced that it will issue €13,500,001 of Oceanes with a 2.5% coupon at a 24.8% premium.
The company is issuing 1,607,143 of the bonds at €8.40 apiece.
Interest will be payable annually, and the bonds will mature on Jan. 1, 2018.
The subscription period for the securities, also known as obligations à option de conversion et/ou d'echange en actions nouvelles ou existantes, will run from Dec. 18 to Dec. 20.
Majority shareholder Groupe Gorgé entered into a 90-day lock-up agreement and will subscribe for 1,205,358 of the for €10,125,007.20.
Banque Degroof is managing the offer, and settlement is anticipated for Dec. 24.
The purpose of the offer is to diversify the company's financing sources and to lengthen its debt maturity profile.
Questions may be directed to Raphaël Gorgé at 33 1 44 77 94 70 or Anne-Pauline Petureaux at 33 1 53 67 35 74/ apetureaux@actus.fr.
ECA is a La Garde, France-based designer of robotic equipment for both civil and military application.
| Issuer: | ECA SA
|
| Issue: | Oceanes
|
| Amount: | €13,500,001.20
|
| Maturity: | Jan. 1, 2018
|
| Manager: | Banque Degroof
|
| Coupon: | 2.5%
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 24
|
| Stock symbol: | EPA: ECASA
|
| Stock price: | €6.73 at close Dec. 14
|
| Market capitalization: | €44.12 million
|
© 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.
