06/04/2009, Duisburg


  • Coupon of 6%
  • Conversion price set at EUR 21.06

The Management Board of Klöckner & Co SE (“Klöckner & Co”) announces the pricing of its offering of EUR 97.9 million senior unsecured convertible bonds (the “Bonds”) to institutional investors outside of the US only. Order books were closed after only two hours and were multiple times oversubscribed. Klöckner & Co intends to use the issue proceeds for general corporate purposes and to continue its stated expansion at a later stage.

The Bonds will be issued by Klöckner & Co Financial Services S.A. (the “Issuer”), a wholly-owned Luxembourg subsidiary of Klöckner & Co, guaranteed by Klöckner & Co, and will be convertible into existing or new shares of Klöckner & Co.

The Bonds will have a maturity of five years and a coupon of 6 per cent being at the low end of the indicated range of 6 to 7 per cent. The conversion price has been set at EUR 21.06, which represents a premium of 35 per cent above the reference price of EUR 15.60. Based on the conversion price 4.65 million shares are underlying the bond.

J.P. Morgan and Deutsche Bank AG are acting as joint bookrunners, lead managers and sole syndicate members for the Offering.

Disclaimer This press release contains certain future-oriented statements. Such future-oriented statements rely on current estimates and assumptions the Company has made to the best of its knowledge. Said statements are affected by risks, uncertainties and other factors, which may cause actual company results, including the company's assets, financial condition and profitability, to differ materially from or be more negative than any results explicitly or implicitly assumed or described in these statements. Our business operations are subject to a number of risks and uncertainties that can lead to future-oriented statements, estimates or forecasts becoming invalid. In view of such risks, uncertainties and assumptions, future events mentioned in this press release may also not occur.

Press Release 06/04/2009

You can download this Press Release as PDF file.

Christian Pokropp

Head of Corporate Communications

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