CRM to start purchase offer for convertible bonds at €6.72 each

By Jennifer Chiou

New York, Nov. 21 - CRM Co. Group announced the start of a repurchase offer for its 2,100 convertible bonds due March 2013 at a price of €6.72 each.

The offer kicks off on Nov. 22 and will end at 11:30 a.m. ET on Dec. 5.

Results will be announced one day after the offer ends.

According to a news release, the bonds will come due in March and are to be redeemed at a price of €21.00 apiece. The company acknowledged that the amount is higher than what is currently on offer.

CRM stated that this voluntary offer follows its recapitalization plan finalized in July.

Holders may submit their securities to Invest Securities (33 1 44 88 77 or info@invest-securities.com).

The Paris-based company provides marketing consultation services.

© 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.