Quadient to redeem early its undated convertible bonds on June 16

By Rebecca Melvin

New York, April 27 – Quadient notified bondholders on Wednesday that it has elected to exercise an early redemption option for all of its net-share-settled undated senior unsecured bonds convertible into new shares and/or exchangeable for existing shares (ISIN: FR0012799229).

The bonds were originally issued in June 2015.

The redemption will occur on June 16 for a price per bond of €57.77 plus interest amounting to €0.97486875 per bond that has accrued since Dec. 16, according to the early redemption notice.

Bondholders retain the right to exercise conversion rights under the bonds until May 20, which is the 18th trading day preceding the early redemption date.

Paris-based Quadient makes postage meters and mailroom equipment and was formerly known as Neopost.

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