Siemens Energy: successful convertible bond issue
(CercleFinance.com) - Siemens Energy today announced that it has successfully placed 960 million euros (principal amount) of subordinated convertible bonds to be converted into new or existing shares.
The net proceeds of this transaction will be used to partially finance its tender offer for Siemens Gamesa shares, which it announced in May for a price of 18.05 euros per share for approximately 33% of the capital.
The bonds will be issued on or around 14 September 2022 and are expected to be listed on the Frankfurt Stock Exchange. After a period of just under three years, they will be automatically converted into Siemens Energy shares.
The market doesn't seem to happy with this, however - Siemens Energy shares are down over 4% this morning.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The net proceeds of this transaction will be used to partially finance its tender offer for Siemens Gamesa shares, which it announced in May for a price of 18.05 euros per share for approximately 33% of the capital.
The bonds will be issued on or around 14 September 2022 and are expected to be listed on the Frankfurt Stock Exchange. After a period of just under three years, they will be automatically converted into Siemens Energy shares.
The market doesn't seem to happy with this, however - Siemens Energy shares are down over 4% this morning.
Copyright (c) 2022 CercleFinance.com. All rights reserved.