RAG-Stiftung offers bonds due 2030 exchangeable for Evonik stock

Chicago, Nov. 27 – RAG-Stiftung is offering €500 million of new exchangeable bonds due 2030, according to a news release.

The bonds will be exchangeable into existing ordinary registered shares of Evonik Industries AG.

The bonds will be offered through an accelerated book building exercise to institutional investors under Regulation S.

Simultaneously, RAG-Stiftung is conducting a buyback offer for two outstanding exchangeable bonds. Proceeds will be used to finance the potential repurchase of the existing exchangeable bonds and to increase its existing financial assets.

Germany-based RAG-Stiftung is a foundation involved in the financing of RAG Corp.’s coal mining operations and is majority owner of Evonik, a German chemical maker.

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