TUI AG Early redemption of 2011/2016 convertible bonds (7684F)
February 24 2015 - 11:58AM
UK Regulatory
TIDMTUI
RNS Number : 7684F
TUI AG
24 February 2015
Announcement of early redemption of 2011/2016 convertible bonds
pursuant to -- 3 (3) of the terms and conditions of the bonds
TUI AG announces the early and complete redemption of the 2.75 %
convertible bonds it issued in March 2011 (ISIN DE000TUAG158). In
accordance with -- 3 (3) of the terms and conditions of the bonds,
the requirements for early redemption of the convertible bonds are
fulfilled, as the XETRA-quotation of the TUI AG share on at least
20 trading days within a period of 30 consecutive trading days,
beginning on 13 January 2015 and ending on 23 February 2015,
exceeded 130 % of the then applicable conversion price.
The last day on which conversion rights may be exercised by
bondholders is 20 March 2015.
To the extent bondholders do not exercise their conversion
rights, the principal amount of the convertible bonds (plus any
interest not yet paid, including interest due up to and including
the day prior to the date of early redemption) will be paid back on
the date of early redemption in accordance with the terms and
conditions of the bonds. The date of the early redemption is 7
April 2015.
Further information on exercise of conversion rights and early
redemption will be available on the Company website
(http://www.tui-group.com/en/ir/bonds_ratings/bonds).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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