Infineon Technologies AG logo

IFX - Infineon Technologies AG News Story

€32.5 1.1  3.6%

Last Trade - 4:35pm

Sector
Technology
Size
Large Cap
Market Cap £35.46bn
Enterprise Value £38.70bn
Revenue £8.68bn
Position in Universe 37th / 1051

BRIEF-Infineon Starts Bookbuilding For Perpetual Hybrid Bond

Wed 25th September, 2019 8:29am
Sept 25 (Reuters) - Infineon Technologies AG  IFXGn.DE :
    * DGAP-ADHOC: INFINEON TECHNOLOGIES AG: INFINEON
TECHNOLOGIES AG
STARTING BOOKBUILDING PROCESS FOR INAUGURAL DUAL-TRANCHE EUR
PERPETUAL HYBRID BOND
    * INFINEON TECHNOLOGIES AG ("INFINEON") HAS DECIDED TODAY TO
INITIATE A BOOKBUILDING PROCEDURE FOR A DUAL-TRANCHE EUR HYBRID
BOND (REGULATION S)
    * IT COMPRISES TWO PERPETUAL TRANCHES WITH NON-CALL PERIODS
ALIGNED TO FIRST RESET DATES AFTER 5.5 YEARS AND 8.5 YEARS,
RESPECTIVELY
    * INFINEON WILL HAVE CUSTOMARY EARLY REDEMPTION RIGHTS,
INCLUDING
IF CYPRESS SEMICONDUCTOR CORPORATION ("CYPRESS") ACQUISITION
SHOULD NOT PROCEED TO CLOSING
    * BASED ON INFINEON'S CURRENT ISSUER RATING OF BBB (CREDIT
WATCH
NEGATIVE), S&P GLOBAL RATINGS ASSIGNED A BB+ ISSUE RATING TO
HYBRID NOTES AND EXPECTS TO ASSIGN INTERMEDIATE EQUITY CREDIT
ONCE CYPRESS ACQUISITION CLOSES
    * TERMS AND VOLUME ARE SUBJECT TO MARKET CONDITIONS
    * NET PROCEEDS FROM ISSUE WILL BE USED TO CANCEL OR PREPAY
LOANS
ENTERED INTO FOR FINANCING PROPOSED CYPRESS ACQUISITION AND FOR
GENERAL CORPORATE PURPOSES
    * THERE WILL BE NO PUBLIC OFFERING OF HYBRID BONDS IN ANY
JURISDICTION

Source text for Eikon:  ID:nEQDfxL2a 
Further company coverage:  IFXGn.DE 

 (Berlin Speed Desk)
 ((frankfurt.newsroom@thomsonreuters.com;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.