The convertible hybrid bond of Suominen Corporation oversubscribed
Helsinki, Finland, 2014-02-05 07:45 CET (GLOBE NEWSWIRE) --
Suominen Corporation Stock Exchange Release 5 February 2014 at 08:45 am (EET)
THE CONVERTIBLE HYBRID BOND OF SUOMINEN CORPORATION OVERSUBSCRIBED
The Board of Directors of Suominen Corporation decided on 31 January 2014 to offer for subscription a 17,500,000 euro convertible hybrid bond directed at a limited group of qualified investors (private placement). The subscription period of the hybrid bond ended on 4 February 2014. The bond issue was oversubscribed and Ahlstrom Corporation’s underwriting has ceased.
The Board of Directors of Suominen Corporation has adjusted the subscriptions and accepted subscriptions of 17.5 million euro. The bondholders must pay the bond notes on 7 February 2014 at the latest.
The bond will be issued in the book-entry system managed by Euroclear Finland Ltd approximately on 10 February 2014 after the bond notes have been paid and the bond notes will be registered in the book-entry accounts of the bondholders as soon as possible after the date of the issuance.
Board of Directors
For further information, please contact:
Nina Kopola, President & CEO, Suominen Corporation, tel. +358 10 214 300
NASDAQ OMX Helsinki Ltd
Suominen in brief
Suominen supplies its industrial and retail customers with nonwovens and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs more than 1,000 people in Europe and in the United States. Suominen’s net sales in 2013 amounted to MEUR 433.1 and operating profit excluding non-recurring items was MEUR 18.3 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.