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conwert Immobilien gets tenders for €71.8 million 1.5% convertibles
By Susanna Moon
Chicago, Sept. 6 - conwert Immobilien Invest SE said that investors tendered €71.8 million, or about 46.5%, of its 1.5% convertible bonds due 2014 by the end of the offer at 11 a.m. ET on Sept 5.
As previously noted, the company will pay €107,963.70 per €100,000 principal amount of convertibles plus accrued interest up to the settlement date of Sept. 7.
The tender was announced on Aug. 30.
In addition to the tender offer, the company sold €80 million of new senior convertibles due 2018 on Aug. 30 at par to yield 4.5% with an initial conversion premium of 30%, as previously reported by Prospect News.
Barclays was the bookrunner of the offering and the dealer manager for the tender offer. Raiffeisen Centrobank AG is co-lead manager of the offering, and Lucid Issuer Services Ltd. was the tender agent for the tender offer.
conwert is a Vienna-based real estate management and development firm.
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