BERLIN (dpa-AFX) - Coal mining company RAG-Stiftung Tuesday announced offering of new senior and unsecured bonds of 500 million euros maturing in 2030, that can be converted to shares of Evonik Industries AG (EVK.DE), of which RAG-Stiftung holds about 53% of shares.
RAG-Stiftung also requested bondholders to submit offers to sell their exchangeable bonds due 2024, and up to 50 million euros of the outstanding exchangeable bonds due 2026.
As on November 20, 450 million euros of the initially issued 500 million euros of the outstanding 2026 Bonds remained in circulation.
The Issuer plans to use the net proceeds of the offering of the new Bonds to finance the potential repurchase of the outstanding 2024 Bonds and the outstanding 2026 Bonds and to increase its existing financial assets.
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