RUEIL-MALMAISON (dpa-AFX) - Schneider Electric SE (SBGSF.PK) announced Tuesday that it has launched a 750 million euros offering of senior unsecured bonds, due 2033, which are convertible into new shares and/or exchangeable for existing shares of the company.
The net proceeds from the offering will be used for general corporate purposes, including Schneider Electric's previously announced acquisition of the remaining 35% stake in Schneider Electric India Private Limited.
The bonds, each with a denomination of 100,000 euros, will be convertible and/or exchangeable into new and/or existing shares of the company and are expected to carry a fixed annual coupon rate in the range of 1% to 1.5%.
The conversion/exchange premium will be set in a range of 37.5% to 42.5% above Schneider Electric's reference share price on Euronext Paris.
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