NH Hotel Group SA offered an update regarding the early redemption of €250.0 million of its 4.0% convertible bonds due in November.
The company resolved to issue 18,946,932 ordinary shares in discharge of the voluntary conversion notices received in respect of €93.2 million principal amount of the bonds.
Accordingly, €248.3 million of the bonds, representing 99.32% of the total principal amount, have been converted into, or exchanged for, new or existing treasury shares of the company.
The hotelier will redeem the remaining €1.7 million of the outstanding bonds June 11.
