Hybrid Bond
July 28, 2011: Notice of an Interest Deferral Date rgarding Euro Hybrid Bonds
Deventer (NL), July 28, 2011 – August 15, 2011 will be an Optional Inter-est Payment Date pursuant to the Terms and Conditions of the Securities. Pursuant to Section 4(a)(ii) of the Terms and Conditions of the Securities, Pfleiderer Finance B.V. hereby notifies the holders of the Securities that it has elected not to pay the accrued interest on such Optional Interest Pay-ment Date. Entitlement to subsequent payment is regulated by the Terms and Conditions as stated in the Prospectus.
The German version of this notice is the only legally binding version.
Press release “Notice of an Interest Deferral Date” (PDF, 9 KB)
July 30, 2010: Notice of an Interest Deferral Date regarding Euro Hybrid Bonds
Deventer (NL), 30 July 2010 – August 16, 2010 will be an Optional Interest Payment Date pursuant to the Terms and Conditions of the Securities. Pursuant to Section 4(a)(ii) of the Terms and Conditions of the Securities, Pfleiderer Finance B.V. hereby notifies the holders of the Securities that it has elected not to pay the accrued interest on such Optional Interest Payment Date. Entitlement to subsequent payment is regulated by the Terms and Conditions as stated in the Prospectus.
The German version of this notice is the only legally binding version.
Press release “Notice of an Interest Deferral Date” (PDF, 13 KB)
August 3, 2009: Announcement on change in listing
Deventer (NL), 3 August 2009 – The bond with the number A0NTX1 is to be traded without accrued interest from August 4, 2009 onwards, accord-ing to Stuttgart stock exchange, as a result of the decision to defer interest. There is however a claim to a subsequent payment in line with the terms and conditions outlined in the prospectus.
Press release “Announcement on change in listing” (PDF, 16 KB)
July 29, 2009: Notice of an Interest Deferral Date regarding Euro Hybrid Bonds
Deventer (NL), 29 July 2009 – 14 August 2009 will be an Optional Interest Payment Date pursuant to the Terms and Conditions of the Securities. Pursuant to § 4(a)(ii) of the Terms and Conditions of the Securities, Pfleiderer Finance B.V. hereby notifies the holders of the Securities that it has elected not to pay the entire accrued interest on such Optional Interest Payment Date. However, the hybrid bondholders continue to be entitled to subsequent payment of the unpaid interest in accordance with the conditions stated in the prospectus.
Press release “Notice of an Interest Deferral Date” (PDF, 14 KB)
April 23, 2007: Euro Hybrid Bonds
In April we successfully launched and priced EUR 275 million of Perpetual (Non Call 7 years) subordinated hybrid bonds, achieving a highly attractive coupon of 7.125 %. The hybrid bonds were placed with quality institutional investors across Europe.
The proceeds of the issue together with other financial sources were used to finance Pfleiderer’s strategic acquisition of Swedish Pergo AB. Furthermore, the hybrid bonds underpin Pfleiderer’s commitment to maintain a conservative financial profile and strong balance sheet as it strives to achieve its targeted Investment Grade rating in the near future.
The subordinated bonds of Pfleiderer AG are rated B1 / BB- (both with stable outlook) by Moody’s and Fitch and have been assigned 50 % and 75 % “equity credit” by Moody’s and Fitch respectively. The hybrid bonds will be accounted for as equity in accordance with IFRS. As a result of this hybrid bond transaction, Fitch upgraded Pfleiderer’s senior rating by one notch from BB (positive outlook) to BB+ (stable outlook).
Primarily Terms and Conditions, 221 KB
Primarily Guarantee on a subordinated basis, 36 KB