DGAP-Adhoc Global Fashion Group S.A.: launches an offering of approx. EUR 375 million Convertible Bonds due 2028
DGAP-Ad-hoc: Global Fashion Group S.A. / Key word(s): Financing
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Global Fashion Group S.A. launches an offering of approx. EUR 375 million Convertible Bonds due 2028
Luxembourg, 3 March 2021 - Global Fashion Group S.A. ("GFG" or the "Company", ISIN: LU2010095458, Frankfurt Stock Exchange: GFG), the leading online fashion and lifestyle destination in growth markets, launches an offering of senior, unsecured bonds convertible as per their terms and conditions (the "Convertible Bonds") in an aggregate principal amount of approximately EUR 375 million.
The management board of GFG, with the consent of the Company's supervisory board, resolved today to launch an offering of Convertible Bonds, which will be issued at 100% of their principal amount with a denomination of EUR 100,000 each and will be redeemed at their principal amount on 15 March 2028, unless previously converted, redeemed or repurchased and cancelled.
The Convertible Bonds will be offered with a coupon between 0.50% and 1.25% payable semi-annually in arrears, and a conversion premium of 40% to 45% above the reference price, being the clearing price in the Concurrent Offer of Existing Shares (as described below). The Convertible Bonds will be convertible into new/and or existing (at the discretion of the Company) no-par value common shares in dematerialized form of GFG (the "Shares").