On 30 March 2004, Feintool International Holding successfully placed the convertible bond announced on 18 March 2004 in an issue lead managed by swissfirst Bank AG, Zurich. The definitive terms of the convertible bond 2004-2009 of Feintool International Holding, Lyss (CH) were fixed once both the deadline for advance subscriptions and the open subscription period had passed.
Shareholders made partial use of their preferential subscription rights. Due to the high demand, swissfirst Bank exercised its CHF 25,000,000 greenshoe option (additional allocation option) in full on 30 March 2004. The final amount of the issue is therefore CHF 75,000,000.
The coupon was fixed at 2.0 %, and the conversion price is CHF 325. Based on the volume weighted average price on 30 March 2004 (CHF 258), the conversion premium is therefore 26 %.
An application to have the convertible bond listed on SWX Swiss Exchange has been submitted. Provisional trading is scheduled to commence on 5 April 2004.
Overview of the terms
Amount of issue: CHF 75,000,000
Issue price: 100%
Paying-in: 8 April 2004
Maturity / Redemption price: 8 April 2009 at 100%
Coupon: 2 %, payable annually on 8 April for the first time on 8 April 2005
Conversion premium: 26 %, based on the volume weighted average price of Feintool registered shares on 30 March 2004
Conversion price/
Conversion ratio: CHF 325 / 3,077x
Conversion ratio: CHF 325 / 3,077x
Swiss security ID code / ISIN / Ticker: 1804627 / CH0018046273 / FTO04
Feintool is a leading technology and systems provider in fineblanking/forming and assembly/automation. It is also a supplier of metal and plastic components.
Feintool operates globally with approximately 1700 employees at the company's own facilities in Switzerland (head office in Lyss), Germany, France, Italy, Great Britain, the United States, Japan and China. Around half its employees are located in Switzerland.
For further information, please contact:
Feintool International Holding
Reto Welte, CFO
Phone +41 (0)32 387 51 11, fax +41 (0)32 387 57 81
swissfirst Bank AG, Zurich
Daniel Dysli, Co-Head Corporate Finance
Phone +41 (0)1 204 82 28, fax +41 (0)1 204 80 40
E-mail daniel.dysli@swissfirst.ch
The media release can be downloaded from the following link:
