Heidelberger Druckmaschinen AG Offers an Approximately 260 Million Euro Seven-Year Convertible Bond
02/02/2005
Heidelberger Druckmaschinen AG (Heidelberg), the world's
leading solution provider for the print media industry and global
leader in sheetfed printing presses, announces the launch of an
approximately 260 million Euro convertible bond offering (with an
over-allotment option of up to additional 20 million Euro
exercisable until February 7, 2005). The bond will have a maturity
of seven years and is being offered with a coupon of 0.875 percent,
a yield to maturity of 2.625 percent to 3.125 percent and a
conversion premium of 50 percent to 55 percent. The conversion
premium and yield to maturity will be set at final pricing.
The offering allows Heidelberg to benefit from the attractive opportunities available in the capital markets to increase its general flexibility in financing.
The bond will be issued through Heidelberg International Finance B.V. and will be guaranteed by Heidelberg. The bond cannot be called for the first four years, and is callable thereafter subject to a 130 percent trigger. Holders have an option to redeem the bond at the fifth anniversary. Heidelberg will apply for the listing of the bond on the Luxembourg Stock Exchange, listing is expected to occur in March 2005.
The bond will be offered exclusively to institutional investors outside the US (in reliance on Regulation S under the U.S. Securities Act of 1933, as amended). Deutsche Bank and JPMorgan are Joint Bookrunners of the offering.
In connection with this offering, Deutsche Bank AG, acting as stabilization manager, may, from the announcement of final terms of the offering, over-allot or effect transactions with a view to supporting the market price of the bond at a level higher than that which might otherwise prevail for a limited period after the issue date. However, there may be no obligation on Deutsche Bank AG to do this. Such stabilizing, if commenced, may be discontinued at any time, and will end no later than February 9, 2005. (Stabilization/FSA)
For further information:
Heidelberger Druckmaschinen AG
Investor Relations
Dirk Kaliebe
Tel: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 60 61
E-mail: dirk.kaliebe@heidelberg.com
The offering allows Heidelberg to benefit from the attractive opportunities available in the capital markets to increase its general flexibility in financing.
The bond will be issued through Heidelberg International Finance B.V. and will be guaranteed by Heidelberg. The bond cannot be called for the first four years, and is callable thereafter subject to a 130 percent trigger. Holders have an option to redeem the bond at the fifth anniversary. Heidelberg will apply for the listing of the bond on the Luxembourg Stock Exchange, listing is expected to occur in March 2005.
The bond will be offered exclusively to institutional investors outside the US (in reliance on Regulation S under the U.S. Securities Act of 1933, as amended). Deutsche Bank and JPMorgan are Joint Bookrunners of the offering.
In connection with this offering, Deutsche Bank AG, acting as stabilization manager, may, from the announcement of final terms of the offering, over-allot or effect transactions with a view to supporting the market price of the bond at a level higher than that which might otherwise prevail for a limited period after the issue date. However, there may be no obligation on Deutsche Bank AG to do this. Such stabilizing, if commenced, may be discontinued at any time, and will end no later than February 9, 2005. (Stabilization/FSA)
For further information:
Heidelberger Druckmaschinen AG
Investor Relations
Dirk Kaliebe
Tel: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 60 61
E-mail: dirk.kaliebe@heidelberg.com
Company Profile
Over the course of its more than 150-year history, Heidelberg has grown from a traditional printing press manufacturer to become the world's largest solutions provider for the print media industry. With its seamlessly integrated hardware and software solutions, it has established a commanding lead over other market players. Heidelberg is a one-stop supplier of everything from prepress solutions to a wide range of products for printing and finishing processes, relevant training and accompanying services. More
