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UBM Development exchanges €84M of bonds

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According to Market Intelligence, December 2022

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UBM Development exchanges €84M of bonds

UBM Development AG exchanged roughly more than €84 million of its five-year 4.875% 2014 bonds with new five-year 3.25% 2022 bonds at the offer's closing Oct. 2.

The bonds were exchanged at a conversion rate of 1:1, along with a cash premium of €28.78.

The subscription offer for the new bonds totaling up to €120 million will commence from Oct. 4 and close Oct. 6, with the issue price set at 101.50%.

Raiffeisen Bank International AG and Quirin Privatbank AG are the joint book runners for the issuance.