Parent company Modern Times Group buys 2.85% bond due Dec. 2, 2015
By Devika Patel
Knoxville, Tenn., Dec. 10 - Modern Times Group AB said its subsidiary, CDON Group AB, has issued a SEK 250 million convertible bond, which was bought by the parent.
The bond is unsubordinated, carries a 2.85% coupon and is due on Dec. 2, 2015. The bond may be converted into shares between June 15, 2012, and Dec. 1, 2015. The conversion rate has been set at 125% of the volume-weighted share price between Dec. 15 and Jan. 14.
The subsidiary's shares will begin trading on the Nasdaq OMX Stockholm under the 'CDON' symbol on Dec. 15.
The parent is an entertainment broadcasting company based in Stockholm.
| Issuer: | CDON Group AB
|
| Issue: | Convertible bond
|
| Amount: | SEK 250 million
|
| Maturity: | Dec. 2, 2015
|
| Coupon: | 2.85%
|
| Price: | Par
|
| Yield: | 2.85%
|
| Warrants: | No
|
| Investor: | Modern Times Group AB
|
| Settlement date: | Dec. 10
|
| Stock symbol: | Nasdaq: CDON
|
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