GN Store Nord offers €215 million 0% convertible bond units due 2022

By Stephanie N. Rotondo

Seattle, May 23 – GN Store Nord A/S is offering €215 million of 0% convertible bond with warrant units, the company said in a press release on Tuesday.

Credit Suisse, BNP Paribas and Nordea are running the books.

The units will consist of a 0% senior unsecured bond due 2022 and detachable warrants due 2022.

The bonds are non-callable.

As for the warrants, they are exercisable after 41 days from issuance. The initial strike price will be set at a premium of 27.5% to 40% above the volume-weighted average price of the shares during the period between launch and pricing.

Proceeds will be used for general corporate purposes, which may include the refinancing of existing debt facilities, the repurchase of common stock and the financing of growth opportunities.

GN Store is a Ballerup, Denmark-based manufacturer of hearing instruments and audiological diagnostics equipment and headsets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.