Hogan Lovells advises Salzgitter AG on its repurchase of Convertible Bonds

Press releases | 15 April 2020

Led by Frankfurt partner Michael Schlitt, the international law firm Hogan Lovells has advised Salzgitter AG on its offer to repurchase its EUR 167.9 million convertible bonds due June 2022 (ISIN: DE000A1Z2G97).

The transaction, in which investors tendered convertible bonds in an aggregate principal amount of approximately EUR 47.9 million to Salzgitter AG, closed on April 15, 2020. The repurchase price for each bond in a nominal value of EUR 100 thousand was EUR 99,875.

HSBC Trinkaus & Burkhardt served as dealer manager for the transaction.

Salzgitter AG is one of Europe's leading steel and technology concerns, with an external revenue of approximately EUR 9 billion, more than 25,000 employees and some 150 domestic and international subsidiaries and portfolio companies.

Hogan Lovells Team for Salzgitter AG

Frankfurt

Prof. Dr. Michael Schlitt (Partner), Mark Devlin (Counsel), Dr. Susanne Ries (Of Counsel), Dr. Timo Lockemann (Associate), Christian Schröder (Associate), Simona Gradišek (Business Lawyer), Eva-Christina Sommer (Business Lawyer) (all Corporate and Capital Markets);

Düsseldorf

Dr. Heiko Gemmel (Partner, Tax).

Salzgitter AG (in-house): Dr. Volker Gawrisch, Philipp von Ploetz