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Deutsche Rohstoff completes €40.6M bond issue, redeems half of older bond

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Deutsche Rohstoff completes €40.6M bond issue, redeems half of older bond

DeutscheRohstoff AG said July 19 that it will redeem 50% of its outstanding2013/2018 corporate bond in late August, which will leave around €15.8 millionof the debt outstanding.

A day earlier, the group had said it closed the placement ofits second bond, raising a total of €40.6 million. Of this, €19.5 million camefrom conversion of the old 2013/2018 bond and the remainder from subscriptionsby institutional and private investors.

The new bond matures in July 2021 and carries interest at5.625%, compared to an 8% annual coupon in the older bond.