The bond of Pentracor GmbH is a fixed-interest security (bearer bond with possible conversion right) and can be acquired at a nominal amount of 1,000 euros each in a private placement with a minimum subscription amount of 100,000 euros. The bond is expected to be included in trading on the Open Market (Regulated Unofficial Market) of the Frankfurt Stock Exchange from 29 May 2019 and will be tradable there.
The interest rate (coupon) of 8.5% applies for the entire term of five years and is paid annually in arrears on 29 May of each year (first time in 2021). At the end of the term, the bond is repaid to the creditors at 120.00 % plus interest accrued on the nominal amount.
The funds raised will be used in a targeted manner to implement the growth strategy with a large-scale product roll-out, primarily to expand production, expand sales, conduct further clinical trials and obtain FDA approval for US market entry.
The terms and conditions of the bonds include the following provisions on the protection rights of bondholders:
- Negative obligation
- Third party default
- Dividend restriction
- Protection against dilution
- Change of Control
Details can be found in the bond conditions (see Financial Publications)