FirstFarms offers up to DKK 50 million of 6% convertibles due 2016

By Angela McDaniels

Tacoma, Wash., Oct. 28 - FirstFarms A/S plans to sell 25 million Danish kroner to 50 million kroner of 6% convertible bonds due March 15, 2016, according to a company news release.

The conversion price will be 42.78 kroner. This is a 3.6% discount to the company's closing share price of 44.40 kroner (Nasdaq OMX Copenhagen: FFARMS) on Friday.

The notes will become convertible 12 months after issuance.

The convertibles will not be callable or putable.

The board of directors received authorization to issue the convertibles at an extraordinary general meeting on Monday.

The subscription period will end at 5:59 p.m. ET on Nov. 6. The deadline for payment of the subscription amount is Nov. 12.

FirstFarms invests in agriculture and land in Eastern Europe. The company is based in Billund, Denmark.

© 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.