DGAP-News: paragon AG Sets the Margin of Interest for New Bond
DGAP-News: paragon AG / Key word(s): Financing
paragon AG Sets the Margin of Interest for New Bond
- Margin for the annual fixed interest rate between 4.5% and 5.0%
- Subscription period for the bond starts tomorrow
Delbrück, Germany, June 26, 2017 - paragon AG (ISIN DE0005558696) will offer a new corporate bond (ISIN DE000A2GSB86; WKN A2GSB8) whose subscription period starts tomorrow (Tuesday, June 27, 2017). The interest rate will be published via a pricing notice at the end of the subscription period, which is expected to be June 29, 2017, at 2p.m. (subject to early closure), and will be set on the basis of the received subscription orders.
The margin for the annual fixed interest rate was set today at between 4.5% and 5.0% as a result of investor talks held during the past week. For interested investors, this means that the annual interest rate, which will be set at the end of the subscription period, will be within this margin and will be at least 4.5%.
"During the investor talks in the past week, we encountered substantial interest in purchasing the bond," said Klaus Dieter Frers, founder and CEO of paragon AG. "This confirmed our assessment that there was a sound capital market environment for issuing the bond."
The issuing of the bond is aimed at private investors, institutional investors and asset managers. The bond, which has a nominal value of EUR 1,000, can be purchased at banks or through online brokers at the Frankfurt Stock Exchange via the DirectPlace subscription functionality of Deutsche Börse AG starting on June 27, 2017. The target issue volume is EUR 40 million.
The inclusion of the bonds in trading on the open market of the Frankfurt Stock Exchange in Deutsche Börse AG's Scale segment for corporate bonds is expected to occur on July 5, 2017 (subject to trading on terms of issue before the issue date of the bonds). The securities prospectus, approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg and notified to the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany, as well as supplement No. 1 to the prospectus, which will include the margin of interest (among other details) and is expected to be approved on June 26, 2017, will be available to download at www.paragon.ag/investoren and www.bourse.lu.
This publication does not constitute a prospectus. The Offer will be made exclusively on the basis of the prospectus approved by the Luxembourg Financial Supervisory Authority (CSSF) on June 19, 2017, and notified to the Federal Financial Supervisory Authority of Germany (BaFin), as updated by supplement No.1 (dated June 26, 2017). An investment decision regarding the securities mentioned in this publication should be made exclusively on the basis of the approved securities prospectus, as updated by supplement No. 1. The securities prospectus, as updated by supplement No. 1, will be able to be viewed and downloaded after publication of the supplement No. 1 on the issuer's website at www.paragon.ag in the Investors/Bonds section.
This publication is not intended for distribution, transmission or publication, either directly or indirectly, in whole or in part, in the United States of America, Canada, Australia and Japan nor in countries where the dissemination of this publication is unlawful.
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|End of News||DGAP News Service|