Siemens issues bond with warrant units in an aggregate volume of $3 billion

(PresseBox) ( München, )
Siemens has successfully finalized the placement of the bond with warrant units which was started this morning. With an aggregate volume of $3 billion, this is the biggest issuance by a European corporate in this market segment for the past ten years. The bonds with the term of 5.5 years have a volume of $1.5 billion and a coupon of 1.05% per annum; the bonds with the term of 7.5 years have the same volume of $1.5 billion and a coupon of 1.65% per annum. The exercise price was fixed at 137.5% of the reference price. On that basis, the exercise price amounts to €104.0018 per share. At issuance, one warrant will entitle its holder to receive 1806.1496 Siemens shares against payment of about €188,000. Thus the warrants result in option rights relating to a total of about 21.7 million Siemens shares. "With this successfully placed transaction we have fully achieved our goal of gaining optimized financing, tapping into attractive market demand", Siemens CFO Joe Kaeser stated.

The bond with warrant units with a minimum per-unit denomination of $250,000 were offered exclusively to institutional investors outside the U.S. Pre-emptive rights of Siemens shareholders are excluded. The bonds issued by Siemens Financieringsmaatschappij N.V. are guaranteed by Siemens AG and complemented with warrants issued by Siemens AG. The terms and conditions of the warrants enable Siemens to service exercised option rights also by delivering Treasury stocks as well as to buy back the warrants.

After issuance, the warrants can be detached from the bonds, the option period commences on March 28, 2012. The bond with warrant units, the bonds detached from warrants and the warrants detached will be listed by Deutsche Bank AG in the Open Market segment of the Frankfurt Stock Exchange ('Freiverkehr').

The delivery of bond with warrant units against payment of the purchase price is scheduled for February 16, 2012.

Deutsche Bank AG acted as Global Coordinator for this transaction. Barclays Capital, Credit Suisse Securities (Europe) Limited, Deutsche Bank AG und J.P.Morgan Securities Limited were appointed Joint Bookrunners.
The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material.
The use of information published here for personal information and editorial processing is generally free of charge. Please clarify any copyright issues with the stated publisher before further use. In the event of publication, please send a specimen copy to service@pressebox.de.