By Susanna Moon
Chicago, Aug. 17 AS Baltika said it sold 4,445,000 of 6% two-year convertible bonds in the one-month public offering in Estonia that closed Wednesday.
The company began the offer July 14 for up to 900 bonds with an issue price of 5,000.
Investors subscribed for 889 bonds, or for 99% of the offering, according to a company update on Thursday.
As announced July 11, the bonds are exchangeable for Baltika shares at the end of the bond term.
Holders could subscribe for 15,625 shares at a subscription price of 0.32.
The company's shareholders registered as of 1 a.m. ET on July 14 were to be given the preemptive right to subscribe for the bonds, according to a previous announcement.
AS LHV Pank is the agent.
Baltika is a Tallinn, Estonia, fashion retailer that designs, manufactures and distributes its five retail brands in Central and Eastern Europe.
| Issuer: | AS Baltika
|
| Issue: | Convertible bonds
|
| Amount: | 4,445,000
|
| Maturity: | Two years
|
| Agent: | AS LHV Pank
|
| Coupon: | 6%
|
| Conversion price: | 0.32
|
| Conversion rate: | 15,625 shares per 5,000 bond
|
| Settlement date: | Aug. 16
|
© 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.
