Westgrund to sell €19.86 million of 5% convertible bonds due 2016

By Marisa Wong

Madison, Wis., April 4 - Westgrund AG announced it plans to issue up to €19.86 million of 5% convertible bonds on April 23.

The bonds will mature on April 22, 2016.

The conversion price will be €3.70 per share.

IKB Deutsche Industriebank AG and Baader Bank AG will act as joint lead managers. IKB is also the global coordinator.

Proceeds will be used to finance growth through acquisitions and for general corporate purposes.

The offer period is expected to begin on Tuesday.

Westgrund is a real estate investment holding company based in Berlin.

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