KfW launches 5-year Bonds exchangeable into Deutsche Telekom AGPRNewswire
FrankfurtJuly 7
Frankfurt, July 7 /PRNewswire/ -- NOT FOR RELEASE OR DISTRIBUTION IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Kreditanstalt für Wiederaufbau ("KfW" is launching an issue of bonds
exchangeable (the "Exchangeable Bonds" into ordinary shares of Deutsche Telekom
AG.
The transaction will raise EUR 4.5 billion for KfW. This is equivalent to
approximately 5.8% of Deutsche Telekom AG`s share capital. The issue could be
increased by a further EUR 0.5 billion through the exercise of an
overallotment-option.
The final number of shares underlying the Exchangeable Bonds will be
determined on the basis of Deutsche Telekom AG`s share price at pricing
following the end of the bookbuilding period, expected to be on 8 July 2003.
The Exchangeable Bonds have a maturity of 5 years and are callable after 3
years subject to a 120 per cent, provisional call threshold.
The Exchangeable Bonds are offered with a coupon of 0.25% to 0.75%, a
conversion premium of 38% to 43% implying a yield to maturity of 0.25% to 0.75%.
The coupon and conversion premium will be set at final pricing, which is
expected to occur tomorrow, 8 July 2003. The reference share price of Deutsche
Telekom AG will be fixed on the basis of the volume weighted average price (the
"VWAP" of Deutsche Telekom AG`s share price during the bookbuilding period
until pricing.
KfW has agreed to a 180-day lock-up period for its remaining stake in
Deutsche Telekom AG.
The Exchangeable Bonds will be placed exclusively with institutional
investors outside the US in reliance on Regulation S. Deutsche Bank AG and J.P.
Morgan Securities Ltd. are Joint Bookrunners for the issue. J.P. Morgan
Securities Ltd. will act as Stabilisation Manager for the issue.
This announcement is for information purposes only and is not an offer to
sell, or a solicitation or an offer to buy any securities.
The distribution of this press release and the offer and sale of KfW
securities and Deutsche Telekom AG securities in certain jurisdictions may be
restricted by law. Any persons reading this announcement should inform
themselves of and observe any such restrictions.
THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED
STATES. This announcement is not for distribution, directly or indirectly, in or
into the United States or to any US person (as defined in Regulation S under the
US Securities Act of 1933, as amended). The Exchangeable Bonds have not been and
will not be registered under the US Securities Act of 1933, as amended. The
Exchangeable Bonds are in bearer form and are therefore subject to US tax law
requirements. The Exchangeable Bonds may not be offered, sold or delivered
within the United States or to US persons.
Deutsche Bank AG and J.P. Morgan Securities Ltd. are acting for KfW and no
one else in connection with the issue of the Exchangeable Bonds and will not be
responsible to any other person for providing the protections afforded to their
respective clients, or for providing advice in relation to the proposed issue.
This announcement is directed only at persons who (i) are outside the United
Kingdom or (ii) are in the United Kingdom and either have professional
experience in matters relating to investments who fall within Article 19(5)
(Investment Professionals) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2001 (the "Order" or (iii) are high net worth
companies, unincorporated associations etc. for the purposes of Article 49 of
the Order (all such persons together being referred to as "relevant persons".
This announcement must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which this
announcement relates is available only to relevant persons and will be issued
only to relevant persons. Stabilisation/FSA
Deutsche Telekom AG
For further information please contact: Ms. Nathalie Drücke, Phone: +49 (69)
7431-2098, E-Mail: nathalie.druecke@kfw.de
Topics..: NEWR LEN PRN
Products: CNR CNRE
(Data sourced from Reuters)
Gruß
Nobody II
FrankfurtJuly 7
Frankfurt, July 7 /PRNewswire/ -- NOT FOR RELEASE OR DISTRIBUTION IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Kreditanstalt für Wiederaufbau ("KfW" is launching an issue of bonds
exchangeable (the "Exchangeable Bonds" into ordinary shares of Deutsche Telekom
AG.
The transaction will raise EUR 4.5 billion for KfW. This is equivalent to
approximately 5.8% of Deutsche Telekom AG`s share capital. The issue could be
increased by a further EUR 0.5 billion through the exercise of an
overallotment-option.
The final number of shares underlying the Exchangeable Bonds will be
determined on the basis of Deutsche Telekom AG`s share price at pricing
following the end of the bookbuilding period, expected to be on 8 July 2003.
The Exchangeable Bonds have a maturity of 5 years and are callable after 3
years subject to a 120 per cent, provisional call threshold.
The Exchangeable Bonds are offered with a coupon of 0.25% to 0.75%, a
conversion premium of 38% to 43% implying a yield to maturity of 0.25% to 0.75%.
The coupon and conversion premium will be set at final pricing, which is
expected to occur tomorrow, 8 July 2003. The reference share price of Deutsche
Telekom AG will be fixed on the basis of the volume weighted average price (the
"VWAP" of Deutsche Telekom AG`s share price during the bookbuilding period
until pricing.
KfW has agreed to a 180-day lock-up period for its remaining stake in
Deutsche Telekom AG.
The Exchangeable Bonds will be placed exclusively with institutional
investors outside the US in reliance on Regulation S. Deutsche Bank AG and J.P.
Morgan Securities Ltd. are Joint Bookrunners for the issue. J.P. Morgan
Securities Ltd. will act as Stabilisation Manager for the issue.
This announcement is for information purposes only and is not an offer to
sell, or a solicitation or an offer to buy any securities.
The distribution of this press release and the offer and sale of KfW
securities and Deutsche Telekom AG securities in certain jurisdictions may be
restricted by law. Any persons reading this announcement should inform
themselves of and observe any such restrictions.
THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED
STATES. This announcement is not for distribution, directly or indirectly, in or
into the United States or to any US person (as defined in Regulation S under the
US Securities Act of 1933, as amended). The Exchangeable Bonds have not been and
will not be registered under the US Securities Act of 1933, as amended. The
Exchangeable Bonds are in bearer form and are therefore subject to US tax law
requirements. The Exchangeable Bonds may not be offered, sold or delivered
within the United States or to US persons.
Deutsche Bank AG and J.P. Morgan Securities Ltd. are acting for KfW and no
one else in connection with the issue of the Exchangeable Bonds and will not be
responsible to any other person for providing the protections afforded to their
respective clients, or for providing advice in relation to the proposed issue.
This announcement is directed only at persons who (i) are outside the United
Kingdom or (ii) are in the United Kingdom and either have professional
experience in matters relating to investments who fall within Article 19(5)
(Investment Professionals) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2001 (the "Order" or (iii) are high net worth
companies, unincorporated associations etc. for the purposes of Article 49 of
the Order (all such persons together being referred to as "relevant persons".
This announcement must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which this
announcement relates is available only to relevant persons and will be issued
only to relevant persons. Stabilisation/FSA
Deutsche Telekom AG
For further information please contact: Ms. Nathalie Drücke, Phone: +49 (69)
7431-2098, E-Mail: nathalie.druecke@kfw.de
Topics..: NEWR LEN PRN
Products: CNR CNRE
(Data sourced from Reuters)
Gruß
Nobody II
