ASM International launches an offering of up to €150 million convertible bonds and obtains commitment from

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Overig advies 03/11/2009 09:15
ASM International launches an offering of up to €150 million convertible bonds and obtains commitment from banks for a new standby revolving credit facility of at least €50 million
ALMERE, The Netherlands - 3 November, 2009 - ASM International N.V. (NASDAQ: ASMI and Euronext Exchange in Amsterdam: ASM) ("ASM" or the "Company") announces that it has launched today an offering of senior unsecured convertible bonds (the "Bonds") due 2014 (the "Offering"). The Offering size will be approximately €130 million and may be further increased up to a maximum of €150 million in the event that the Company's increase option of €20 million is exercised in full.

ASM intends to use the proceeds of the Offering for general corporate purposes and to extend its debt maturity profile. In addition, the Company intends to partially use the proceeds to buy back its outstanding convertible bonds due 2010 and 2011 on an ongoing basis, subject to the price for such repurchases being acceptable to the Company and in all cases, as permitted by applicable law and regulation. The Company is also considering additional measures to limit dilution to its existing shareholders from any conversions under the outstanding 2010 and 2011 convertible bonds.

The Bonds will be convertible into new and/or existing shares of the Company listed on Euronext Amsterdam (the "Shares") and are expected to carry a quarterly coupon of 6.5 - 7.5% per annum and to be convertible into Shares at an expected premium of 25 - 32.5% above ASM's reference share price, being the volume weighted average price of the Shares on Euronext Amsterdam Stock Exchange from launch to pricing. The final terms of the bonds are expected to be announced through a separate press release.

The right to convert the Bonds into Shares is subject to an extraordinary general shareholders' meeting of the Company approving the grant of rights to subscribe for the full amount of common shares into which the Bonds may be converted in accordance with their terms, and to exclude the pre-emptive rights of common shareholders with respect to the granting of such rights. In the event that such approval is not obtained then the Company may elect to redeem the Bonds or alternatively the Bonds will be settled at the Company's option with cash or shares on conversion until such time that the approval of common shareholders is obtained. To this end an extraordinary general meeting of shareholders will be called for 24 November 2009.

The Bonds will be issued and redeemed at 100% of their principal amount and, unless previously redeemed, converted or cancelled, will mature on the fifth anniversary of the issue, in 2014. The Company will have the option to call the Bonds after three years from issuance at the principal amount, together with accrued interest, if the market price of the shares deliverable on conversion of the Bonds exceeds 130% of the conversion price of the Bonds over a specified period.

The expected date of issue and settlement and delivery for the Bonds is November 6, 2009.

toevoeging om
16.10
ASM International raises €150 million from its offering of 6.5% convertible bonds due 2014
ALMERE, The Netherlands - 3 November, 2009 - ASM International N.V. (NASDAQ: ASMI and Euronext Exchange in Amsterdam: ASM) ("ASM" or the "Company") is pleased to announce the pricing of its offering of €150 million principal amount of convertible bonds (the "Bonds") due 2014 (the "Offering").

The Company decided to exercise the increase option of €20 million. The Bonds will be convertible into new and/or existing shares of the Company (the "Shares") and will carry a quarterly coupon of 6.5% per annum and an initial conversion price of €17.09.

ASM intends to use the proceeds of the Offering for general corporate purposes and to extend its debt maturity profile. In addition, the company intends to partially use the proceeds to buy back its outstanding convertible bonds due 2010 and 2011 on an ongoing basis, subject to the price for such repurchases being acceptable to the Company and in all cases, as permitted by applicable law and regulation. The Company is also considering additional measures to limit dilution to its existing shareholders from any conversions under the outstanding 2010 and 2011 convertible bonds.

The right to convert the Bonds into shares is subject to an extraordinary general shareholders' meeting of the Company approving the grant of rights to subscribe for the full amount of common shares into which the Bonds may be converted in accordance with their terms, and to exclude the pre-emptive rights of common shareholders with respect to the granting of such rights. In the event that such approval is not obtained then the Company may elect to redeem the Bonds or alternatively the Bonds will be settled at the Company's option with cash or shares on conversion until such time that the approval of common shareholders is obtained. To this end an extraordinary general meeting of shareholders will be called for 24 November 2009.

The Bonds will be issued and redeemed at 100% of their principal amount and, unless previously redeemed, converted or cancelled, will mature on the fifth anniversary of the issue, in 2014. The Company will have the option to call the Bonds after three years from issuance at the principal amount, together with accrued interest, if the market price of the shares deliverable on conversion of the Bonds exceeds 130% of the conversion price of the Bonds over a specified period.

The expected date of issue and settlement and delivery for the Bonds is November 6, 2009.

Application will be made by ASM for the Bonds to be listed and traded on the Luxembourg EuroMTF Market within 6 months post settlement of the Bonds.

Morgan Stanley & Co. International plc and Rabo Securities / KBC Financial Products are acting as Joint Bookrunners for the Offering. Rabo Securities is acting pursuant to a co-operation arrangement with KBC Financial Products.





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