DGAP-Adhoc

Dürr AG to launch convertible bond offering with a total principal amount of around € 150 million due 2026 - Seite 2

The Company's major shareholder, Heinz Dürr GmbH (the "Investor"), has entered into an agreement with the company to subscribe to part of the convertible bonds for a total nominal value of € 5,000,000.

The Company will be entitled to redeem the convertible bonds at their principal amount (plus accrued interest) in accordance with the terms and conditions of the convertible bonds at any time (i) on or after 5 February 2024, if the share price is equal to or exceeds 130% of the then prevailing conversion price over a certain period or (ii) if 15% or less of the aggregate principal amount of the convertible bonds remain outstanding.

The Company plans to use the proceeds from the issue of the convertible bonds for general corporate purposes, including refinancing and further potential acquisitions. 

In the context of the offering, the Company has agreed to a 90-day lock-up period subject to certain customary exceptions.

The final pricing is expected to be announced later today in a separate press release. Settlement is expected to take place on or around 1 October 2020.

The Company intends to apply for the inclusion of the convertible bonds in the Open Market Segment (Freiverkehr) of the Frankfurt Stock Exchange.  


Disclaimer

This announcement may not be published, distributed or transmitted, directly or indirectly, in or into the United States of America (including its territories and possessions), Canada, Japan and Australia or any other jurisdiction where such announcement could be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute an offer of, or a solicitation of an offer to purchase, securities of the Company or any of its subsidiaries in the United States of America, Germany or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, an offer in any jurisdiction. The securities described in this announcement will not be and have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act.