EQS-Ad-hoc: Lenzing AG / Key word(s): Financing
Lenzing AG: Intended exchange offer for 2020 hybrid bond
16-Jun-2025 / 09:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
Group.
The issuer is solely responsible for the content of this announcement.
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Intended exchange offer for EUR 500 million undated subordinated
resettable fixed rate notes with the ISIN XS2250987356 (Hybrid Bond 2020),
including the issue of new Euro-denominated undated subordinated
resettable fixed rate notes (Hybrid Bond 2025)
Lenzing – Lenzing Aktiengesellschaft (“Lenzing AG”) intends to announce an
exclusive offer to qualifying holders of the EUR 500 million undated
subordinated resettable fixed rate notes with the ISIN XS2250987356 issued
on December 7, 2020 (“Existing Notes”) to exchange the Existing Notes at a
ratio of 90 percent x aggregate principal amount of the Existing Notes for
new Euro-denominated undated subordinated resettable fixed rate notes
(“Exchange Notes”) and a cash consideration in the amount equal to 10
percent x aggregate principal amount of the Existing Notes (“Cash
Consideration”) subject to the satisfaction or waiver of certain minimum
condition (“Exchange Offer”). The maximum total aggregate amount of the
Cash Consideration is limited to EUR 50 million. The exchange period is
expected to run from on or about June 16, 2025 to on or about July 2,
2025.
The intended Exchange Offer will not constitute a redemption pursuant to §
6(3)(a) or (b) of the terms and conditions of the Existing Notes. With
this transaction, Lenzing AG intends to optimize its debt profile and
improve its financing cost.
Concurrently with the intended Exchange Offer, Lenzing AG intends to issue
new euro-denominated undated subordinated resettable fixed rate notes (the
“New Money Notes” and, together with the Exchange Notes, the “New Notes”)
in an intended separate offering for cash consideration.
The terms of the Hybrid Bond 2025 will be based on the terms of the Hybrid
Bond 2020: it represents subordinated capital with a fixed interest rate,
one-sided termination rights by Lenzing AG and an unlimited term. The
Hybrid Bond 2025 will therefore be classified as equity under IFRS. The
Hybrid Bond 2025 will rank senior to the Hybrid Bond 2020.
Important Notice
This announcement does not constitute an invitation to participate in the
Exchange Offer in or from any jurisdiction in or from which, or to or from
any person to or from whom, it is unlawful to make such invitation under
applicable securities laws. This announcement does not constitute an offer
to buy or exchange, or a solicitation of an offer to exchange or buy, any
New Notes in any circumstances in which such offer or solicitation is
unlawful.
The distribution of this announcement in certain jurisdictions may be
restricted by law. Persons into whose possession this announcement comes
are required to inform themselves about and to observe, any such
restrictions.
Your contact for
Public Relations: Investor Relations:
Dominic Köfner Sébastien Knus
Vice President Corporate Communications & Vice President Capital Markets
Public Affairs Lenzing Aktiengesellschaft
Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing,
Werkstraße 2, 4860 Lenzing, Austria Austria
Phone +43 7672 701 2743 Phone +43 7672 701 3599
E-mail (1)media@lenzing.com E-mail (3)s.knus@lenzing.com
Web (2)www.lenzing.com Web (4)www.lenzing.com
End of Inside Information
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16-Jun-2025 CET/CEST News transmitted by EQS Group. www.eqs.com
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Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2155254
End of Announcement EQS News Service
2155254 16-Jun-2025 CET/CEST
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