What are the key data of the Pentracor bond?
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.
What will the funds from the bond issue be used for?
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.
What is the interest rate of the bond?
The bond bears interest at an annual rate of 8.5%. The interest will be paid annually in arrears, starting on 29 May 2021
How long is the term of the bond?
The term of the bond is five years, starting on 29 May 2020 and it will be redeemed on 29 May 2025, the due date.
Is the bond traded on the stock exchange?
The bond is expected to be included in and tradable on the Open Market (Regulated Unofficial Market) of the Frankfurt Stock Exchange from 29 May 2020.
What covenants are attached to the bond?
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)
Where can I get more information about the bond?
Further information can be found in the bond terms and conditions and the bond factsheet (see Financial Publications).
We will also be happy to answer any questions you may have personally.