By Susanna Moon
Chicago, June 8 - Aspo plc said its board of directors decided to offer a convertible capital loan of up to €15 million for subscription by a limited group of selected investors.
The loan will have a coupon of 7% and a maturity of five years.
Investors also may subscribe for up to 2,307,000 shares.
Holders may convert each €50,000 principal amount into 7,690 new shares, or at €6.50, from Aug. 1 through June 15, 2014.
The subscription period is from June 9 through June 12.
Proceeds will be used for conversion of the company's short-term liabilities.
The issue was approved at a shareholder meeting on June 8.
Aspo is a Helsinki, Finland-based conglomerate that owns and develops B2B corporate brands, focusing on sectors that require extensive, specialist knowledge.
| Issuer: | Aspo plc
|
| Issue: | Convertible capital loan
|
| Amount: | Up to €15 million
|
| Maturity: | Five years
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Conversion price: | €6.50
|
| Warrants: | For up to 2,307,000 shares
|
| Pricing date: | June 8
|
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