3W Power S.A. (Shares: ISIN LU1072910919, 3W9K; Bonds: ISIN DE000A1ZJZB9 / WKN A1ZJZB) (the "Company"), the holding company of AEG Power Solutions Group, a global provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets, today issues a € 14.0 million convertible bond (“Convertible Bond”).
The Convertible Bond (ISIN DE000A1Z9U50) is a five-year subordinated non-mandatory convertible at 0.60 Euro with an annual coupon of 5.5%. It is subordinated to the € 50.0 million senior secured bond payable in 2019 (ISIN: DE000A1ZJZB9). On 5 October 2015 Bondholders approved a change in the terms and conditions of its € 50.0 million Corporate Bond (DE000A1ZJZB9) with a majority of 99.97 percent.
Jeffrey Casper, CEO, explains the issue of the convertible bond as follows: “The proceeds support the development of new opportunities including investments focused on customer-facing activities in sales and services and in areas of growth in Africa, Asia and North America. We see this as an additional step to accompany our ongoing process of reduced fixed costs and better business processes in our traditional markets.”
The private placement to institutional investors was managed by ODDO SEYDLER BANK AG, Frankfurt am Main.
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3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.
