By Laura Lutz
Des Moines, Dec. 21 - TV-Loonland AG closed its offering of convertible bonds for €2.02 million, down from the €2.75 million deal size announced on Nov. 22.
The company sold 2,019,504 convertible bonds at €1.00 apiece.
Between Nov. 27 and Dec. 11, TV-Loonland's existing shareholders were allowed to subscribe for €1.00 of bonds for every four shares that they held. After that, the bonds were offered to other investors.
The bonds bear interest at 5% per year.
Of the proceeds, €1 million was used for the company's recent restructuring agreement. The rest of the proceeds will be used for working capital.
The bond was authorized at an extraordinary general meeting on May 29.
TV-Loonland is a Munich-based media company specializing in programming for children and youth.
| Issuer: | TV-Loonland AG
|
| Issue: | Convertible bond
|
| Amount: | €2,019,504
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Warrants: | No
|
| Announcement date: | Nov. 22
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Frankfurt: TVO
|
| Stock price: | €0.38 at close Nov. 22
|
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