Convertible Bond Issue of NOK 42 Million for Tandberg Storage
The loan's defined coupon interest is 10% per annum.
By Jean Jacques Maleval | January 9, 2008 at 4:18 pm
Tandberg Storage ASA confirms the placement of a new convertible bond issue to the amount of NOK 42 million. The loan will serve to settle an existing convertible loan of NOK 41.5 million due for settlement on 15. February 2008 (ISIN NO 001
034142.3).
The company’s facilitator and advisor, DnB NOR Markets, commenced activities vis-a-vis existing bond owners, as well as the largest shareholders, on December 18, 2007, and the loan was fully subscribed on December 28, 2007.
The company’s CEO and CFO have subscribed to the Bond Issue for a combined total of 0.5 MNOK.
The new loan is valid for a period of two years from the estimated date of payment on January 21, 2008, and existing bond owners will be offered pre-settlement of the existing loan on the same date at face value inclusive accrued interest from the previous interest period.
The loan`s defined coupon interest is 10% per annum payable half- yearly, and the conversion rate defined is NOK 1.70 per share.
The loan must be finally approved by the company`s general assembly.
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