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HomeLatest NewsCellnex issues 1,000 million in bonds to extend the maturity of debt

Cellnex issues 1,000 million in bonds to extend the maturity of debt

Date: April 20, 2024 Time: 17:06:14

Cellnex’s board of directors has approved an issue of convertible senior bonds for a total nominal amount of 1,000 million euros and maturing on August 11, 2030, which will serve to repurchase bonds of around 787.6 million, with in order to extend the maturity of the debt, as communicated this Friday to the National Securities Market Commission (CNMV) and collected by Europa Press.

In a statement, Cellnex has informed that the importation of the issue will be up to 1,000 million, will accrue a fixed annual interest of 2.125% and will mature on August 11, 2030. The bonds will be convertible into newly issued shares or exchangeable for existing Cellnex shares, at a price initially established at 62.42 euros, which represents a 62.5% premium over the weighted average price.

Cellnex will make a concurrent repurchase of the senior bonds, unsecured and convertible into and/or exchangeable for shares now in circulation, published on January 16, 2018 for an import of 600 million, at 1.50% interest and maturing in 2026 (‘2018 Bonds’) and senior, unsecured bonds convertible into and/or exchangeable for shares now in circulation, published on January 21, 2019 for 200 million at 1.50% interest and maturing in 2026 (‘ Bonds 2019’) . The issue will be rated by the Fitch risk measurement agency and it is expected that it will assign a BBB- rating to the new bonds.

Issuance directed only to professional investors

The agreed issuance is of senior bonds, unsecured and convertible into and/or exchangeable for ordinary shares of the company, excluding the pre-emptive subscription rights of the shareholders.

The issue, aimed only at professional investors, including 2026 Bond holders, consists of bonds with a nominal import of 100,000 euros and will be issued at 100% of their nominal value.

The company has confirmed that it is taking advantage of favorable market conditions to extend the average maturity of its debt by issuing this new long-term convertible bond.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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