Soitec: early redemption of convertible bonds.
(CercleFinance.com) - In accordance with its announcement made on 7 July, Soitec confirms having made the early redemption of all the convertible bonds issued on 18 September 2013 and maturing on 18 September 2018.
Thus, 98.74% of the convertible bonds in circulation on 7 July have been converted into 1,056,057 ordinary shares. The balance was repaid in cash, representing a total of approximately 541,000 euros. At the end of the process, the group's total equity capital rose by 3.48%.
This operation enables the semiconductor component group to reduce its debt by 41.8 million euros early, strengthening its equity capital by almost the same amount, with the group now having positive net cash.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Thus, 98.74% of the convertible bonds in circulation on 7 July have been converted into 1,056,057 ordinary shares. The balance was repaid in cash, representing a total of approximately 541,000 euros. At the end of the process, the group's total equity capital rose by 3.48%.
This operation enables the semiconductor component group to reduce its debt by 41.8 million euros early, strengthening its equity capital by almost the same amount, with the group now having positive net cash.
Copyright (c) 2017 CercleFinance.com. All rights reserved.