Arcandor AG

  • WKN: 627500
  • ISIN: DE0006275001
  • Land: Germany

Nachricht vom 15.12.2004 | 08:31

Karstadt Quelle issues Five Year Convertible Bond

Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.

----- NOT FOR DISTRIBUTION IN THE UNITED STATES Karstadt Quelle issues Five Year Convertible Bond Essen, 15.12.2004. Today, KarstadtQuelle Aktiengesellschaft will issue a Convertible Bond via its Dutch subsidiary Karstadt Finance B.V. which will be placed in an accelerated bookbuilding. The pre-emptive rights of shareholders of KarstadtQuelle Aktiengesellschaft for the bond are excluded. The bond will have an issue volume of EUR 140 million (including Greenshoe up to EUR 154 million). Dependent on the final determination of the conversion premium, the bond can be converted into up to 19,531,250 shares of KarstadtQuelle Aktiengesellschaft. The bond will have a maturity of five years and cannot be called by the issuer during the first three years; thereafter, the issuer can call the bond under certain conditions. The coupon, the conversion premium and the conversion price will be determined through a bookbuilding process, which is planned to take place today. The bookbuilding range of the coupon amounts to 4.0% to 4.5%, the bookbuilding range of the conversion premium amounts to 30 to 40% above today's volume weighted average XETRA price of until the time of determination of the price. The Convertible Bond will be underwritten by the members of a bank syndicate lead by Dresdner Bank Aktiengesellschaft as bookrunner. The Convertible Bond will be placed via a bookbuilding process with institutional investors outside the USA (Reg S). Dresdner Bank Aktiengesellschaft is stabilisation manager of the issue. In connection with the offer of the Convertible Bond, from announcement of the final conditions up to and including 20 December 2004, they can undertake transactions which are aiming to keep the market price of the convertible bond at a level which may differ from the level which may prevail otherwise. There is, however, no obligation to undertake such stabilisation measures and such stabilisation measures may, after they have commenced, be terminated at any time. Dresdner Bank Aktiengesellschaft has been granted a Greenshoe Option. The Greenshoe Option can only be exercised up to 10% of the offer volume of the Convertible Bond and can be exercised in the period up to 20 December 2004 in connection with over allocations which have taken place. At the end of the stabilisation period, information about potential stabilisation measures and the potential exercise of the Greenshoe Option will be published in the Frankfurter Allgemeine Zeitung and the Börsen Zeitung. In line with common market practice in connection with the issuance of a Convertible Bond, Dresdner Bank Aktiengesellschaft will offer in connection with the placement to institutional investors to acquire shares by means of a stock loan. In case this offer will be taken up, it may have a short term impact on the share price of the issuer. The proceeds of the issue will be used to further strengthen the financial position of KarstadtQuelle Aktiengesellschaft and to support the restructuring as well as the strategic repositioning of the group. Essen, 15.12.2004 The Management Board WKN: 627500; ISIN Code: DE 000 6275001; Common Code: 001114999 ===================================================================== This announcement neither constitutes a sales offer nor is it an invitation to subscribe to any notes or shares in the United States. KARSTADT QUELLE AG shares (hereinafter "shares") and KARSTADT QUELLE AG notes (hereinafter "notes") may not be offered or sold in the US or to US citizens or on their behalf (in accordance with Regulation S of the American Securities Act of 1933 as defined in the relevant version (hereinafter "Securities Act")) unless they are registered or exempted from registration in accordance with the Securities Act. In accordance with the Securities Act, the notes and the shares are not and will not be registered. A share offer or notes offer in the US will only be possible on the basis of a prospectus and detailed information about KARSTADT QUELLE AG as well as its management and its annual accounts. end of ad-hoc-announcement (c)DGAP 15.12.2004
----- WKN: 627500; ISIN: DE0006275001; Index: MDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart 150831 Dez 04

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