Umicore: E500m convertible bond placement
(CercleFinance.com) - Belgian metal production and recycling company Umicore today announces the placement of unsecured and senior unsubordinated convertible bonds due in 2025, under the Company's authorised capital, for an aggregate principal amount of 500 million euros.
"The net proceeds of the offering will be used for general corporate purposes and to fund Umicore's strategic developments in the areas of clean mobility materials and recycling," the group said.
The Bonds will be issued at 100% of their principal amount and unless previously converted, redeemed or repurchased and cancelled, the Bonds will be redeemed at 100% of their principal amount on 23 June 2025.
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