Solarstrom extends conversion period of its 6.85% bonds for two years

By Susanna Moon

Chicago, April 1 - S.A.G. Solarstrom AG said its executive board and supervisory board decided to extend the conversion period on its €10 million of 6.85% convertible bonds issued in 2007.

The term was extended by two years to July 29, 2012.

If holders elect to extend the conversion period, an interest rate of 6.25% will be applied from July 30.

Holders now have the option of two additional regular conversion periods during which the bonds can be converted into Solarstrom shares.

Solarstrom shares (ETR: SAG) closed at €4.05 on Thursday.

The issuer is a Freiburg, Germany-based company engaged in the construction and operation of solar power plants and installations.

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