Shop Apotheke’s negotiations on converting a convertible bond were quite successful. 98 percent of investors have made a corresponding declaration of intent. The present conversion declarations amount to around 90 percent of the bond volume. The company will issue shares in the coming week to deliver to the bondholders.
The further negotiations are ended. One will soon take advantage of the early repayment option under the terms of the bond and terminate the bond.
The convertible bond has a volume of 135 million euros. It actually runs until 2023 and has an annual interest rate of 4.5 percent.
The analysts at Hauck & Aufhäuser have graded the shop pharmacy’s papers over the course of the day. If the rating was previously “buy”, the new rating is “hold”. The price target will be raised from EUR 155.00 to EUR 160.00.
Shop Apotheke’s shares are down 8.3 percent today to 142.80 euros.