Debt issuance and rating
Debt issuance
On 5 March 2018, Ence issued €160m of convertible bonds due 2023. The bonds carry a fixed annual coupon of 1.25%, payable semi-annually, and are convertible into shares of the Company, at the option of the bondholders, at conversion price of €8.0901 per share (adjusted on 1 July 2021).
The proceeds were used to fund the early and voluntary redemption on 1 June 2018 of the €250m of bonds issued on 30 October 2015.
The convertible bonds are traded on the Frankfurt stock exchange. For more information CLICK HERE
Senior Unsecured Convertible Bond
Corporate rating
Ence’s current issuer rating is as follows:
Documents
09/07/2018. Bondholder’s General Meeting agreements 9 July
2018
15/06/2018. Ence
notifies the call of the bondholder’s general meeting
Consent Solicitation Memorandum
FISCAL, TRANSFER AND
CONVERSION AGENCY AGREEMENT
28/05/2018. Moody’s
has raised Ence’s long term corporate credit rating to Ba2 from Ba3, with stable outlook
27/04/2018.The Company announces the early
redemption of its €250 Mn Senior Notes on 1 June 2018
27/04/2018. S&P
raises Ence´s corporate credit rating to BB from BB- with stable outlook
Quarterly Report 1Q18
Terms and conditions of
the EUR 160 million convertible bonds due 2023
Ence confirms the initial conversion
price of the EUR 160 million offering of senior unsecured convertible bonds due 2023
22/02/2018. Ence
reports the conversion prices of the convertible bonds
Ence
announces the conclusion of a EUR 160 million offering of senior unsecured convertible bonds due 2023
22/02/2018.
Ence reports on the setting of the terms and conditions of the convertible bonds issued
