Siegfried Issues Hybrid Convertible Bond With RAG-Stiftung Beteiligungsgesellschaft mbH
(SIX: SFZN) As announced in May 2015, RAG-Stiftung Beteiligungsgesellschaft mbH based in Essen, Germany, will participate in a privately placed hybrid bond of Siegfried Holding AG in the amount of CHF 60 million in order to finance Siegfried’s acquisition of significant elements of BASF’s pharmaceutical supply business.
The bond was issued on September 29, 2015, and entitles RAG-Stiftung Beteiligungsgesellschaft mbH to convert the amount within 5 years into Siegfried Holding AG shares, which corresponds to a stake in Siegfried of about 7 percent. It is expected that the shares will come from Siegfried Holding AG’s treasury shares, therefore not having a dilutive effect.
Siegfried CEO Rudolf Hanko: “RAG-Stiftung Beteiligungsgesellschaft mbH is a long-term oriented stable partner with a sustainable focus and in full support of the Siegfried Group’s strategy.”
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The bond was issued on September 29, 2015, and entitles RAG-Stiftung Beteiligungsgesellschaft mbH to convert the amount within 5 years into Siegfried Holding AG shares, which corresponds to a stake in Siegfried of about 7 percent. It is expected that the shares will come from Siegfried Holding AG’s treasury shares, therefore not having a dilutive effect.
Siegfried CEO Rudolf Hanko: “RAG-Stiftung Beteiligungsgesellschaft mbH is a long-term oriented stable partner with a sustainable focus and in full support of the Siegfried Group’s strategy.”
Help employers find you! Check out all the jobs and post your resume.