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Gabriel Finance Offers EU350m Bonds, Convertible into Evonik Shr 2013-11-19 07:02:15.736 GMT
By Sarah Jones Nov. 19 (Bloomberg) -- Gabriel Finance to launch EU350m secured exchangeable limited recourse bonds due 2016; exchangeable into Evonik ordinary shares, according to statement. * Bonds to be issued, redeemed at maturity at 100% of their principal amount * Will bear interest between 1.625% and 2.375% pa, payable semi-annually in arrear * Number of underlying Evonik shares will initially be ~10m, is about 2.1% of current Evonik share capital * Bonds callable by issuer after Dec. 17 2015 if Evonik share price (over a certain period) exceeds 130% of the then applicable exchange price
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--Editor: Gaurav Panchal
To contact the reporter on this story: Sarah Jones in London at +44-20-7673-2419 or sjones35@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net