DGAP-News
Deutsche Rohstoff AG:
Deutsche Rohstoff AG / Key word(s): Bond
21.01.2015 14:45
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Buyback Offering for Corporate Bond
Heidelberg. Deutsche Rohstoff AG is offering creditors of the issued
corporate bond (WKN A1R07G; ISIN DE000A1R07G4) to purchase their bonds at a
price of 105% of the face value. The offer period begins on 23 January 2015
and ends on 5 February 2015. The buy-back is limited to a maximum amount of
EUR 20 million. The currently outstanding amount of the bond accounts for
approximately EUR 57 million. Creditors will receive a respective notice
from their banks within the next days. They will then have the opportunity
declare their acceptance of the offer until 5 February.
Deutsche Rohstoff AG issued the bond in June 2013 to finance the drilling
program of its subsidiary Tekton Energy in the United States. The bond is
due in July 2018. In accordance with the terms and conditions of the bond,
Deutsche Rohstoff has the right to terminate prematurely and repay the bond
in July 2016 at a price of 103%, and beginning July 2017 at a price of
102%.
The original purpose of the bond issue has been omitted in the meantime,
since Tekton Energy has sold its main assets for USD 200 million in May
2014. Deutsche Rohstoff still intents to reinvest in the oil- and
gas-sector in the US. To this end, new acreage has been acquired within the
last few weeks. It is planned to complete several wells in these areas
within the coming months using proceeds of the bond. With the buy-back
offer, Deutsche Rohstoff wants to give its creditors the opportunity to
respond to the change in the initial situation and to redeem their bonds at
an attractive price.
According to the regulations of Deutsche Börse AG (German Stock Exchange)
trading of the corporate bond will be halted with the publication of this
announcement until the end of the following trading day. This trading halt
is a standard measure of the exchange.
Heidelberg, 21 January 2015
Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
21.01.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of Announcement DGAP News-Service
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Heidelberg. Deutsche Rohstoff AG is offering creditors of the issued
corporate bond (WKN A1R07G; ISIN DE000A1R07G4) to purchase their bonds at a
price of 105% of the face value. The offer period begins on 23 January 2015
and ends on 5 February 2015. The buy-back is limited to a maximum amount of
EUR 20 million. The currently outstanding amount of the bond accounts for
approximately EUR 57 million. Creditors will receive a respective notice
from their banks within the next days. They will then have the opportunity
declare their acceptance of the offer until 5 February.
Deutsche Rohstoff AG issued the bond in June 2013 to finance the drilling
program of its subsidiary Tekton Energy in the United States. The bond is
due in July 2018. In accordance with the terms and conditions of the bond,
Deutsche Rohstoff has the right to terminate prematurely and repay the bond
in July 2016 at a price of 103%, and beginning July 2017 at a price of
102%.
The original purpose of the bond issue has been omitted in the meantime,
since Tekton Energy has sold its main assets for USD 200 million in May
2014. Deutsche Rohstoff still intents to reinvest in the oil- and
gas-sector in the US. To this end, new acreage has been acquired within the
last few weeks. It is planned to complete several wells in these areas
within the coming months using proceeds of the bond. With the buy-back
offer, Deutsche Rohstoff wants to give its creditors the opportunity to
respond to the change in the initial situation and to redeem their bonds at
an attractive price.
According to the regulations of Deutsche Börse AG (German Stock Exchange)
trading of the corporate bond will be halted with the publication of this
announcement until the end of the following trading day. This trading halt
is a standard measure of the exchange.
Heidelberg, 21 January 2015
Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
21.01.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of Announcement DGAP News-Service
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