Corporate Bond / Syndicated Loan
At the beginning of July 2004 Dürr issued a corporate bond with a volume of € 200 million. The fixed-interest and subordinated bond has a term through 2011 and a coupon of 9.75%.
Dürr has given notice of redemption of 50% of the bond volume effective as at October 15, 2008. The 50% tranche will be paid back at 105.25% plus interest incurred. Dürr is planning to buy back the remaining 50% of the bond at 102.625% in the third quarter of 2009.
In addition, the Dürr Group has credit and guarantee lines to cover financing on a long-term basis (duration until September 2011). The credit line for the syndicated loan stands at € 200 million and is unused as at September 15, 2008. The guarantee line stands at € 240 million and its partially used.
| Dürr AG Corporate Bond | |
|---|---|
WKN | A0BU7S |
ISIN (Reg S) | XS0195957658 |
ISIN (144a) | XS0195957815 |
Maturity | until July 15, 2011 |
Coupon | 9.75 % |
Issue price | 96.33 % |
Repayment | callable from July 15, 2008 at a rate of 105,250% |
Intererst payment | semiannual at 15th of January / 15th of July |
Nominal value | EUR 1,000.00 |
Managing banks |
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Bond redemption
Dürr is redeeming 50% of the bond at a price of 105.25% in mid-October 2008. The bond will be redeemed on a proportional basis, i.e. 50% of the nominal amount held will be posted out of the securities account. The interest accrued up until then will of course of be credited. The bond is suspended from trading until October 15, 2008, due to the buy back.