Luxembourg, 4 June 2024 – Global Fashion Group S.A. (the “Issuer” or “GFG”) announces that it has agreed today to repurchase EUR 9,800,000 in aggregate principal amount of its outstanding convertible bonds due 2028 (ISIN: DE000A3KMT51) (the “Bonds”) from an institutional investor.
The purchase price per EUR 100,000 nominal amount will be EUR 75,000. In addition, the Company will pay interest accrued on the Bonds from and including the immediately preceding interest payment date to but excluding the settlement date of the repurchase, which is expected to amount to EUR 346 per Bond. The repurchased Bonds may be cancelled by the Company or held and resold.
Following the settlement of the repurchase which is expected to occur on or around 25 June 2024, an aggregate principal amount of the Bonds of EUR 165.7 million will be outstanding and not held by the Issuer. GFG continues to look at opportunities to reduce its outstanding Bonds.
|