DGAP-News
Deutsche Rohstoff AG: Deutsche Rohstoff buys back Corporate Bond for 5.6 million face value
DGAP-News: Deutsche Rohstoff AG / Key word(s): Bond
Deutsche Rohstoff AG: Deutsche Rohstoff buys back Corporate Bond for
5.6 million face value
10.02.2015 / 16:00
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Deutsche Rohstoff buys back Corporate Bond for 5.6 million face value
Heidelberg. The buyback offer at 105% of the face value, which Deutsche
Rohstoff offered to the creditors of its corporate bond (WKN A1R07G; ISIN
DE000A1R07G4), is completed. Creditors gave back bonds for a face value of
5.6 million Euro. The outstanding amount of the bond amounts to
approximately EUR 51.5 million after the buyback.
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
matures in July 2018. In accordance with the terms and conditions of the
bond, Deutsche Rohstoff has the right to terminate the bond prematurely and
repay it in July 2016 at a price of 103%, in July 2017 at a price of 102%.
The original purpose of the bond issue has been omitted in the meantime,
since Tekton Energy sold its main assets for USD 200 million in May 2014.
However, Deutsche Rohstoff 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 intended to give its creditors the opportunity to respond to the
change in the initial situation and to redeem their bonds at an attractive
price.
Heidelberg, 10 February 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
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10.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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 News DGAP News-Service
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321637 10.02.2015
Deutsche Rohstoff buys back Corporate Bond for 5.6 million face value
Heidelberg. The buyback offer at 105% of the face value, which Deutsche
Rohstoff offered to the creditors of its corporate bond (WKN A1R07G; ISIN
DE000A1R07G4), is completed. Creditors gave back bonds for a face value of
5.6 million Euro. The outstanding amount of the bond amounts to
approximately EUR 51.5 million after the buyback.
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
matures in July 2018. In accordance with the terms and conditions of the
bond, Deutsche Rohstoff has the right to terminate the bond prematurely and
repay it in July 2016 at a price of 103%, in July 2017 at a price of 102%.
The original purpose of the bond issue has been omitted in the meantime,
since Tekton Energy sold its main assets for USD 200 million in May 2014.
However, Deutsche Rohstoff 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 intended to give its creditors the opportunity to respond to the
change in the initial situation and to redeem their bonds at an attractive
price.
Heidelberg, 10 February 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
---------------------------------------------------------------------
10.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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 News DGAP News-Service
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321637 10.02.2015
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