DGAP-News

Global Fashion Group S.A.: successfully places EUR 375 million Convertible Bonds due 2028

DGAP-News: Global Fashion Group S.A. / Key word(s): Financing Global Fashion Group S.A.: successfully places EUR 375 million Convertible Bonds due 2028 04.03.2021 / 08:00 The issuer is solely responsible for the content of this announcement. NOT FOR DIRECT OR INDIRECT PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY JURISDICTION IN WHICH OFFERS OR SALES OF THE SECURITIES WOULD BE PROHIBITED BY APPLICABLE LAWS. Global Fashion Group S.A successfully places EUR 375 million Convertible Bonds due 2028 Luxembourg, 4 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, successfully placed senior, unsecured bonds convertible as per their terms and conditions (the "Convertible Bonds") in an aggregate principal amount of EUR 375 million, divided into 3,750 bonds in a nominal amount of EUR 100,000 each.

The Convertible Bonds will be issued at 100% of their principal amount with a coupon of 1.25% payable semi-annually in arrears. The initial conversion price amounts to EUR 17.9550, representing a conversion premium of 42.5% above the reference price of EUR 12.60, i.e. the clearing price of the Concurrent Offer of Existing Shares (as described below).

Christoph Barchewitz and Patrick Schmidt, Co-CEOs of GFG, said: "This additional capital supports our ambition of becoming a EUR 10 billion Net Merchandise Value ("NMV") business in the next 7-9 years. Alongside investment in core growth areas, we also intend to accelerate the execution of our strategy, in particular the expansion of our Marketplace and Platform Service capabilities. With this transaction, we have even greater capacity to accelerate fashion e-commerce adoption in our markets and to fuel the next chapter of our growth."

Unless previously converted, redeemed or repurchased and cancelled, the Convertible Bonds will be redeemed at their principal amount on 15 March 2028. Investors also have the right to convert the Convertible Bonds into new and/or existing (at the discretion of the Company) no-par value common shares in dematerialised form of GFG.