On June 13, Symrise AG (“Symrise”) successfully placed with institutional investors €400m unsecured convertible bonds, with a maturity of 7 years and denominations of €100,000 each. Shareholders’ pre-emptive rights were excluded.
   The convertible bonds are convertible into new and/ or existing no par value bearer shares of the issuer (the ‘Ordinary Shares’) not earlier than five years from now. The total number of shares underlying the convertible bonds corresponds to 3.4% of the current share capital. The net proceeds raised will be used to refinance existing loan and capital markets indebtedness and for general corporate purposes of the Company.
   ‘With this issuance we are taking the opportunity of the positive convertible bond market environment to secure long-term financing at attractive terms from the capital markets.‘ says Olaf Klinger, CFO of Symrise AG. ‘In addition, we are diversifying our investor basis.‘
   The coupon amounts to 0.2375 % p.a. payable annually in arrear. The initial conversion price has been fixed at €91.8595, corresponding to a premium of 45 % to the volume-weighted average share price of Symrise during the bookbuilding process on June 13.
   Symrise intends to apply for inclusion of the Bonds to trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange.
   The convertible bonds were placed in an accelerated bookbuilding only with institutional investors outside the United States in reliance on Regulation S (Category 1) under the United States Securities Act of 1933 as amended, as well as outside of Australia, Canada and Japan.


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