By Rebecca Melvin
New York, June 7 - Alstria Office REIT AG priced €79.4 million of five-year convertible bonds at par of €100,000 to yield 2.75% with an initial conversion premium of 15% over the volume weighted average price of shares between launch and pricing Friday, according to a news release.
Pricing came at the midpoint of talk, which was for a 2.5% and 3% coupon and a 12.5% to 17.5% premium.
The Regulation S offering was sold via BofA Merrill Lynch and JPMorgan as joint bookrunning managers with UniCredit Bank AG acting as a co-bookrunner.
Proceeds will be used for refinancing existing debt and general corporate purposes.
The bonds are expected to settle June 14 and to be listed on the Frankfurt Stock Exchange.
Hamburg, Germany-based Alstria is a real estate investment trust focused on office real estate in Germany.
| Issuer: | Alstria Office REIT AG
|
| Issue: | Convertible senior notes
|
| Amount: | €79.4 million
|
| Maturity: | 2018
|
| Bookrunners: | BofA Merrill Lynch, JPMorgan
|
| Co-bookrunner: | UniCredit Bank AG
|
| Coupon: | 2.75%
|
| Price: | Par
|
| Yield: | 2.75%
|
| Conversion premium: | 15%
|
| Conversion price: | €10.0710
|
| Price talk: | 2.5%-3%, up 12.5%-17.5%
|
| Pricing date: | June 7
|
| Settlement date: | June 14
|
| Stock symbol: | Xetra: AOX
|
| Stock reference price: | €8.7574
|
| Distribution: | Regulation S
|
| Market capitalization: | €702.5 million
|
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