The official announcement of the firm to the ATHEX.
By virtue of the decision of the Board of Directors of the company “MYTILINEOS S.A.” (“Company” or “Issuer”) dated 26.06.2023, the Issuer, inter alia, decided:
(a) the issuance of an common, interest bearing, bond loan by the Issuer (“Bond Loan” or “CBL”), pursuant to the provisions of Law 4548/2018, as in force, and the provisions of Greek Law 3156/2003 that remain in force (the “Issuance”), of a total nominal amount of up to five hundred million euros (€500,000,000) with a duration of seven (7) years, without provision of security, divided into up to 500,000 dematerialized, common, bearer bonds of nominal value of €1,000 each (the “Bonds”), as well as the approval of the specific terms of the CBL, which constitute the CBL programme (the "CBL Programme");
(b) that the Bonds will be offered for subscription through a Public Offering in Greece to the entire investing public, i.e. to qualified and retail investors, within a period of three (3) business days, during which the subscription of the Bond Loan will take place (the "Public Offering"), using the Electronic Book Building (the “EBB”) service of the Athens Exchange and will be admitted to trading on the Fixed Income Securities Segment of the Regulated Market of the Athens Exchange,
(c) the determination of the offer price of each Bond at par, i.e. €1,000 per Bond.
In case the CBL is not subscribed for an amount of at least €300,000,000, the issuance of the Bond Loan will be cancelled and the amount corresponding to the blocked subscription amount of each Retail Investor will be released within two (2) business days at the latest, without interest.
DETERMINATION OF FINAL YIELD AND INTEREST RATE OF THE BONDS
The determination of the yield and the interest rate of the Bonds (the “Interest Rate”) shall be effected by way of the book building process (“Book Building”), which shall be kept by the Joint Coordinators and Bookrunners, and will be conducted through the EBB Process, in which only Qualified Investors participate.
The Interest Rate and the final yield shall be determined by the Joint Coordinators and Bookrunners within the yield range, through the EBB process, as further specified in the Prospectus, will be approved by a person authorised by the Board of Directors of the Company and will be announced on the Company's website and on the website of the Athens Stock Exchange no later than the next business day after the end of the Public Offering period.
The yield range, which was determined by the Joint Coordinators and Bookrunners and within which Qualified Investors shall submit subscription applications, is the following:
RANGE | |
Mínimum Yield | Maximum Yield |
4,00% | 4,50% |
The final yield and Interest Rate shall be notified to the Hellenic Capital Market Commission and shall be published on the website of the Issuer and the Athens Exchange, at the latest on the next business day following the completion of the Public Offering.
The criteria and conditions, on the basis of which the final yield and Interest Rate shall be determined, include the bond market conditions, the volume of demand per yield by Qualified Investors, the volume and type of Qualified Investors, the volume of demand by Retail Investors (to the extent that the final allocation to them exceeds the minimum allocation percentage of 30%), as well as the bond loan issuance service cost that the Issuer is willing to undertake.
Indicatively, if the demand by Qualified Investors covers the Issuance up to the high end of the yield range but at the same time a material part of the Issuance is subscribed for at a lower level of yield, the lower level may be selected, even if this results in a smaller amount of proceeds raised, and subject to the fulfilment of the condition for the issue of the Bonds.
Concurrently with the determination of the final yield, the final allocation of the Bonds will be decided. In any case, the Interest Rate shall be determined within the announced binding yield range.
The Interest Rate and Offer Price will be common for all investors, Qualified and Retail, that will participate in the offering of the Bonds through the Public Offering.
Within two (2) business days following the end of the Public Offering, a detailed announcement will be issued by the Joint Coordinators and Bookrunners regarding the outcome of the Public Offering, including the Interest Rate, which will be published in the Daily Statistical Bulletin of the Athens Exchange.
Detailed information on the final yield and Interest Rate is provided in section 4.3.3. “Determination of Final Yield and Interest Rate of the Bonds by means of a Public Offering through the Book Building” of the Prospectus.
