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Article: Germany: SGL Carbon to Raise 190 Million Euros to Add Energy Products.
- Article from:
- TendersInfo
- Article date:
- June 26, 2009
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Byline: datta003
SGL Carbon SE plans to sell 190 million euros ($265 million) of convertible bonds to fund expansion in renewable energy products and reduce dependence on the slumping steel market.
The 7-year bonds will be convertible into about 6.5 million shares at a premium of 30 percent and pay interest of 3 percent to 4 percent, the Wiesbaden, Germany-based company said in a statement today.
SGL plans to exploit growth opportunities in alternative energy and innovative energy storage, Chief Financial Officer Juergen Muth said in the statement. The company has suffered from dramatic de-stocking in the steel industry, hurting profit in its ...