Brief: Global Fashion Group Launches Offering Of About EUR 375 Mln Convertible Bonds

Global Fashion SA

03/03/2021 16:49

March 3 (Reuters) - GLOBAL FASHION GROUP SA  GFG.DE :
    * LAUNCHES AN OFFERING OF APPROX. EUR 375 MILLION
CONVERTIBLE
BONDS DUE 2028
    * GLOBAL FASHION GROUP SA - WHICH WILL BE ISSUED AT 100% OF
THEIR
PRINCIPAL AMOUNT WITH A DENOMINATION OF EUR 100,000 EACH
    * GLOBAL FASHION GROUP SA - AND WILL BE REDEEMED AT THEIR
PRINCIPAL AMOUNT ON 15 MARCH 2028, UNLESS PREVIOUSLY CONVERTED,
REDEEMED OR REPURCHASED AND CANCELLED
    * GLOBAL FASHION GROUP SA - AND A CONVERSION PREMIUM OF 40%
TO 45%
ABOVE REFERENCE PRICE, BEING CLEARING PRICE IN CONCURRENT OFFER
OF EXISTING SHARES
    * GLOBAL FASHION GROUP SA - CONVERTIBLE BONDS WILL BE
CONVERTIBLE
INTO NEW/AND OR EXISTING NO-PAR VALUE COMMON SHARES IN
DEMATERIALIZED FORM OF GFG
    * GLOBAL FASHION GROUP SA - COMPANY WILL BE ENTITLED TO
REDEEM
ALL, BUT NOT SOME ONLY, OF CONVERTIBLE BONDS OUTSTANDING AT
THEIR PRINCIPAL AMOUNT PLUS ACCRUED INTEREST AT ANY TIME
    * GLOBAL FASHION GROUP SA - ON OR AFTER DATE FIXED FOR
REDEMPTION
(WHICH WILL BE NO EARLIER THAN 14 MAY 2025) IF STOCK EXCHANGE
PRICE PER GFG SHARE AMOUNTS TO AT LEAST 130% OF THEN RELEVANT
CONVERSION PRICE OVER A CERTAIN PERIOD
    * GLOBAL FASHION GROUP SA - OR IF 15% OR LESS OF AGGREGATE
PRINCIPAL AMOUNT OF CONVERTIBLE BONDS REMAIN OUTSTANDING

Source text for Eikon:  ID:nEQ9gVDlga 
Further company coverage:  GFG.DE 

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