Single Ansicht

SolarWorld AG: Special repayment and deferral of interest payment entail change in nominal value of both bonds

17-03-17

On March 24, 2017, a special repayment will be made to both bonds of SolarWorld AG. In Q1 2017, the company sold a 50 percent stake in SolarWorld Solicium GmbH, which deals with the exploration of a lithium deposit in Altenberg-Zinnwald in the in the Eastern Ore Mountains, to Bacanora Minerals Ltd. for a price of € 5.0 million. € 2.0 million of the sales proceeds will go to SolarWorld’s financial creditors. The amount will be paid pro rata to the holders of the Senior Facilities and the two bonds. This will reduce the respective nominal values/repayment amounts of each note by the amount of the partial repayment made.

Furthermore, SolarWorld will exercise the right provided in the Conditions of Issue of the bonds (Section 3 (4)) to pay accrued interest together with the principal on maturity date. In this context, the total margin will be raised retroactively for the respective interest period from December 30, 2016, to March 30, 2017, to 10 % p. a. plus the base interest rate 3-month EURIBOR of at least 1 % p. a. Thus, on March 31, 2017, the respective nominal values/repayment amounts of bond SolarWorld FRN IS. 2014/2019 Series 1116 (ISIN DE000A1YDDX6) and bond SolarWorld FRN IS. 2014/2019 Series 1017 (ISIN DE000A1YCN14) will increase by the respective interest amount accrued by March 30, 2017.

Notes of SolarWorld FRN IS. 2014/2019 Series 1116 (ISIN DE000A1YDDX6)
Current nominal value per note: € 332.45
Special repayment per note: € 1.85
Record date for special repayment: March 23, 2017 (after close of trading)
Payment date: March 24, 2017
Nominal value per note as at March 24, 2017: € 330.60
Accrued interest per note: € 9.11
Record date for accrued interest: March 30, 2017 (after close of trading)
Nominal value per note as at March 31, 2017: € 339.71

Notes of SolarWorld FRN IS. 2014/2019 Series 1017 (ISIN DE000A1YCN14)
Current nominal value per note: € 341.78
Special repayment per note: € 1.89
Record date for special repayment: March 23, 2017 (after close of trading)
Payment date: March 24, 2017
Nominal value per note as at March 24, 2017: € 339.89
Accrued interest per note: € 9.37
Record date for accrued interest: March 30, 2017 (after close of trading)
Nominal value per note as at March 31, 2017: € 349.26


Contact:
SolarWorld AG
Investor Relations
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.com