HORNBACH-Baumarkt-Aktiengesellschaft / Key word(s): Bond/Corporate Action
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Board of Management plans premature redemption of corporate bond
Bornheim, November 12, 2012. The Board of Management of
Hornbach-Baumarkt-AG intends to prematurely redeem the corporate bond
(ISIN: XS0205954778, WKN: A0C4RP), whose originally agreed term ran until
November 15, 2014. Consistent with the contractually agreed termination
options, from November 15, 2012 the redemption price amounts to 100.00%.
The premature redemption must be announced in advance with a notice period
of between 30 and 60 days.
Subject to approval by the Supervisory Board, the redemption amount, with a
nominal value of EUR 250 million, is to be refinanced by issuing a new
long-term bond. The precise termination date will be fixed in the coming
months depending on conditions on the capital market for new bond issues.
The Board of Management reserves the right to waive its intention to
terminate the bond in the event of unfavorable capital market conditions.
This debt restructuring measure is intended to strengthen the company’s
capital structure on more favorable terms in the long term. The funds will
serve to finance further expansion. In particular, the company plans to
maintain a supply of liquidity enabling it to act flexibly to exploit
12.11.2012 DGAP’s Distribution Services include Regulatory Announcements,
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76878 Bornheim bei Landau/Pfalz
Phone: +49 (0)6348 / 60 00
Fax: +49 (0)6348 / 60 40 00
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service