Intercell plans €30.8 million of three-year convertibles to yield 6%

By Rebecca Melvin

New York, Feb. 22 - Intercell AG plans to price €30.8 million of three-year senior unsecured convertible notes talked at a 6% coupon, with an unspecified initial conversion premium over the company's €9.65 closing share price on the Vienna Stock Exchange on Monday, according to a news release.

The non-public offering to institutional investors is managed by Erste Group Bank AG.

The offering was expected to be completed Wednesday.

Further information on the offering wasn't immediately available.

The original investors will have the right to purchase an additional €30.8 million of notes on the same terms as the original issue for a period of 12 months following the closing and an additional €15.4 million of notes for a period of 18 months following the closing.

Vienna-based Intercell develops vaccines for the prevention and treatment of infectious diseases. It is listed on the Vienna stock exchange under symbol ICL, and has American Depositary Receipts under ticker symbol INRLY.

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