Q-Cells SE has publicized the pricing of the €250 million convertible bonds that its subsidiary Q-Cells International Finance B.V. intends to issue in 2014. The bonds, guaranteed by Q-Cells, will generate proceeds that will be used to bolster the company’s financial position.
With an aggregate principal amount of €250 million bonds being issued, the 10,897,994 no par-value ordinary bearer shares of Q-Cells have been set at the conversion price of €22.94 – a premium of 35% over the current reference price for Q-Cells ordinary shares of €16.99. The coupon of the bonds has been set at 5.75%.
Acting as Joint Lead Managers and Joint Bookrunners of the Offering, Citi and Morgan Stanley are assisted by Co-Lead Managers Commerzbank, UBS Investment Bank, UniCredit Group (Bayerische Hypo- und Vereinsbank AG) and WestLB AG.