GBL: convertible bond issue
(CercleFinance.com) - Groupe Bruxelles Lambert (GBL) today announced the launch, via its subsidiary Sagerpar, of an unsecured senior convertible bond issue for a nominal amount of 500 million euros, maturing in 2026, convertible into existing GBL ordinary shares.
The bonds will not bear interest and will mature in five years' time, unless redeemed early. They will be offered at an issue price between 101.25% and 103.75% of the par value of 100,000 euros.
The company intends to set the conversion price of the bonds at a premium of between 35% and 40% over the reference share price, corresponding to the volume-weighted average of the prices recorded between launch and pricing.
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The bonds will not bear interest and will mature in five years' time, unless redeemed early. They will be offered at an issue price between 101.25% and 103.75% of the par value of 100,000 euros.
The company intends to set the conversion price of the bonds at a premium of between 35% and 40% over the reference share price, corresponding to the volume-weighted average of the prices recorded between launch and pricing.
Copyright (c) 2021 CercleFinance.com. All rights reserved.