Brief: Intek Group To Launch Voluntary Partial Exchange Offer On Bonds Due 2020

KME SpA

04/12/2019 10:17

Dec 4 (Reuters) - Intek Group SpA  IKG.MI :
    * SAID ON TUESDAY THAT ITS BOARD APPROVED LAUNCH OF PARTIAL
VOLUNTARY PUBLIC EXCHANGE ON 2.4 MLN OF ITS 2015-2020 BONDS WITH
CONSIDERATION REPRESENTED BY UP TO 2.4 MLN NEW INTEK GROUP BONDS
2020-2025, FOR A TOTAL OF EUR 50.9 MILLION
    * TO LAUNCH SUBSCRIPTION OFFER ON 2020-2025 BONDS FOR ABOUT
EUR
25.0 MLN
    * 2020-2025 BONDS TO HAVE MATURITY OF 5 YEARS WITH INTEREST
RATE
OF 4.25% ON ANNUAL BASIS
    * 2020-2025 BONDS SUBSCRIPTION OFFER CAN BE INCREASED UP TO
ABOUT
EUR 75.9 MLN, DEPENDING ON ACCEPTANCE LEVEL FOR EXCHANGE OFFER
ON BONDS  
    * 2015-2020 BONDS NOT INCLUDED IN EXCHANGE OFFER WILL BE
REPAID ON
FEB 20, 2020
    * IN CASE 2020-2025 BOND ISSUE WILL EQUAL TO AT LEAST EUR
60.0
MLN, TO LAUNCH VOLUNTARY EXCHANGE OFFER ON 50.1 MLN SAVING
SHARES WITH CORRESPONDING VALUE OF 2020-2025 BONDS 
    * UNDER VOLUNTARY EXCHANGE OFFER THE PREMIUM WILL REPRESENT
53.7%
OF AVERAGE SAVING SHARES' PRICE FROM LAST 3 MONTHS 
    * UNDER THE EXCHANGE OFFER ON SAVINGS SHARES THE RATIO WILL
BE ONE
2020-2025 BOND FOR 43 SAVINGS SHARES TENDERED 
    * MAXIMUM TOTAL AMOUNT OF 2020-2025 BONDS SERVING OFFER TO
EQUAL
ABOUT EUR 101.0 MLN

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA9F5Zwk
    
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