Capital/Financing Update • Feb 10, 2015
Capital/Financing Update
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Corporate | 10 February 2015 16:00
Deutsche Rohstoff AG: Deutsche Rohstoff buys back Corporate Bond for 5.6 million face value
Deutsche Rohstoff AG / Key word(s): Bond
2015-02-10 / 16:00
Deutsche Rohstoff buys back Corporate Bond for 5.6 million face value
Heidelberg. The buyback offer at 105% of the face value, which Deutsche Rohstoff offered to the creditors of its corporate bond (WKN A1R07G; ISIN DE000A1R07G4), is completed. Creditors gave back bonds for a face value of 5.6 million Euro. The outstanding amount of the bond amounts to approximately EUR 51.5 million after the buyback.
Deutsche Rohstoff AG issued the bond in June 2013 to finance the drilling program of its subsidiary Tekton Energy in the United States. The bond matures in July 2018. In accordance with the terms and conditions of the bond, Deutsche Rohstoff has the right to terminate the bond prematurely and repay it in July 2016 at a price of 103%, in July 2017 at a price of 102%.
The original purpose of the bond issue has been omitted in the meantime, since Tekton Energy sold its main assets for USD 200 million in May 2014. However, Deutsche Rohstoff intents to reinvest in the oil and gas sector in the US. To this end, new acreage has been acquired within the last few weeks. It is planned to complete several wells in these areas within the coming months using proceeds of the bond. With the buy-back offer, Deutsche Rohstoff intended to give its creditors the opportunity to respond to the change in the initial situation and to redeem their bonds at an attractive price.
Heidelberg, 10 February 2015
Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company’s focus is placed on oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in political stable countries with high environmental standards. The business concept is based on redeveloping deposits, which have been well explored in the past. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
2015-02-10 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Friedrich-Ebert-Anlage 24 | |
| 69117 Heidelberg | |
| Germany | |
| Phone: | 06221-87100-11 |
| Fax: | 06221-87100-22 |
| E-mail: | [email protected] |
| Internet: | www.rohstoff.de |
| ISIN: | DE000A0XYG76, DE000A1R07G4, |
| WKN: | A0XYG7, A1R07G |
| Indices: | Entry Standard (Performance TOP 30) |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in Open Market (Entry Standard) |
| End of News | DGAP News-Service |
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| 321637 2015-02-10 |
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