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Shop Apotheke Europe: Great response from convertible bond creditors

Shop Apotheke Europe has almost reached its goal in talks with investors about the early conversion of a convertible bond with a volume of 135 million euros. The Venlo-based operator of Internet mail-order pharmacies announced on Wednesday that corresponding declarations of intent were already available for more than 96 percent of the outstanding total. The convertible bond would be due in 2023 and earn interest at 4.5 percent per year. The talks with the creditors of the convertible bond should end on October 6th at the latest – after that there will be no more incentives for investors to convert early.

“Incoming orders to convert the bonds are currently being processed. As soon as the processed orders have reached a volume of 85 percent of the outstanding amount, Shop Apotheke will publish a further notification ”, according to the company.

“If only 15 percent or less of the outstanding bonds remain after the conversion, the Shop Apotheke reserves the right to repay these bonds in full at their nominal value in accordance with the bond conditions,” announced Shop Apotheke Europe last week.

At a glance – chart and news: Shop Apotheke Europe

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