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SGL Carbon gives results of tender offer for 3% convertible bonds
Chicago, Sept. 16 – SGL Carbon SE said that it will be accepting €86.5 million of tendered notes from its €159.3 million outstanding 3% convertible bonds due 2023 (ISIN: DE000A2G8VX7), according to a press release.
That outstanding amount included bonds held by the company, with the amount outstanding not held by the company at €126.3 million when the offer started.
After settlement, there will be €39.8 million of the bonds outstanding and not held by the company.
The company was offering par and accrued interest in the brief offer that started on Sept. 14 and expired at 2 p.m. ET on Sept. 15.
All repurchased bonds are being canceled. Settlement is expected for Sept. 22.
Should the amount outstanding reach less than 20% of the issue size, the company does intend to issue a clean-up call.
The dealer managers for the offer were Jefferies (+44 20 7898 7115, hpatel@jefferies.com), BNP Paribas (+33 158 163 896, henri.tailfer@bnpparibas.com) and HSBC (+49 211 9102887, uta.neunkirchen@hsbc.de).
The issuer is a Wiesbaden, Germany-based manufacturer of carbon, graphite and composite materials.
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