BERLIN (dpa-AFX) - TAG Immobilien AG (TEG.F) announced on Tuesday that it has decided to launch an offering of unsecured and unsubordinated convertible bonds of around 325 million euros, due March 11, 2031.
The company said shareholders' pre-emptive rights will be excluded in the offer. The net proceeds from the issue of the bonds will be used for general corporate purposes.
The Bonds, with an aggregated principal amount of around 325 million euros and a denomination of 100,000 euros per Bond, will be issued by TAG Immobilien. The Bonds will be convertible into new and/or existing bearer shares of the company with no par value representing approximately 10 percent of the company's share capital or may be repaid in cash.
TAG Immobilien has used an authorization from its annual general meeting in 2023 for the issuance of convertible bonds.
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