Wiesbaden, September 14 2022.SGL Carbon SE (the “Issuer” or "SGL Carbon") today successfully completed the placement of unsubordinated, unsecured convertible bonds due 2027 (the "Convertible Bonds") in the aggregate principal amount of €101.9 million. The Convertible Bonds have been offered only to institutional investors outside the United States of America under exclusion of the pre-emptive rights (Bezugsrechte) of existing shareholders of the Issuer (the "Offering"). The Convertible Bonds will mature on September 21 2027, and will be issued and redeemed at 100% of their principal amount.
The initial conversion price has been fixed at €8.3298, representing a premium of 25% above the reference price of €6.6638. The coupon has been set at 5.75% p.a., payable semi-annually in arrears on March 21 and September 21, commencing on March 21 2023. Settlement of the transaction is expected to take place on or around September 21 2022.
SGL Carbon intends to list the Convertible Bonds on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange. However, settlement and closing of the Offering is not conditional upon obtaining such inclusion to trading.
Jefferies, BNP PARIBAS and HSBC acted as Joint Global Coordinators and Joint Bookrunners on the Offering.
SGL Carbon plans to use the proceeds from the Offering to repurchase its 3.0% convertible bonds due 2023 (ISIN: DE000A2G8VX7) (the "2023 Bonds"), whose outstanding principal amount not held by the Issuer is €126.3 million as of today, to extend the maturity profile and for general corporate purposes.
About SGL Carbon
SGL Carbon is a technology-based company and world leader in the development and production of carbon-based solutions. Its high-quality materials and products made from specialty graphite, carbon fibers and composites are used in industrial sectors that determine the future: automotive, aerospace, solar and wind energy, semiconductors, and LEDs as well as in the production of lithium-ion batteries, fuel cell and other energy storage systems. In addition, SGL Carbon develops solutions for chemical and industrial applications. Further developments in these areas demand more intelligent, more efficient, networked and sustainable solutions. This is where the entrepreneurial vision of SGL Carbon evolves around: contributing to a smarter world.
In 2021, SGL Carbon SE generated sales of approx. 1 billion euros. The company has approx. 4,700 employees at 31 locations in Europe, North America, and Asia.
Further information on SGL Carbon can be found at www.sglcarbon.com/press.