By Susanna Moon
Chicago, Dec. 18 – SFC Energy AG said it issued €1.65 million of 4% convertible bonds due 2018.
The issue price was set at 90% of par and the conversion price at €6.10, which is a conversion premium of 36% based on Thursday's closing price, according to a company announcement.
The convertible bond will be divided into bonds in bearer form with a nominal amount of €50,000. The shareholders' subscription rights were excluded.
The total issue can be increased up to €5 million by way of a tap issue, the company said.
The partial convertible bonds were subscribed by existing investors by way of a private placement. SFC is a Muenchen, Germany-based company operating in the fuel cell sector.
| Issuer: | SFC Energy AG
|
| Issue: | Convertible bonds
|
| Amount: | €1.65 million
|
| Maturity: | Three years
|
| Coupon: | 4%
|
| Price: | 90
|
| Conversion price: | €6.10
|
| Conversion premium: | 36%
|
| Stock symbol: | ETR: F3C
|
| Stock price: | €4.50 at close Dec. 16
|
| Distribution: | Private placement
|
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