Early redemption of 2011/2016 convertible bonds

RNS Number : 7684F

TUI AG

24 February 2015

 



Announcement of early redemption of 2011/2016 convertible bonds pursuant to § 3 (3) of the terms and conditions of the bonds

TUI AG announces the early and complete redemption of the 2.75 % convertible bonds it issued in March 2011 (ISIN DE000TUAG158). In accordance with § 3 (3) of the terms and conditions of the bonds, the requirements for early redemption of the convertible bonds are fulfilled, as the XETRA-quotation of the TUI AG share on at least 20 trading days within a period of 30 consecutive trading days, beginning on 13 January 2015 and ending on 23 February 2015, exceeded 130 % of the then applicable conversion price.

The last day on which conversion rights may be exercised by bondholders is 20 March 2015.

To the extent bondholders do not exercise their conversion rights, the principal amount of the convertible bonds (plus any interest not yet paid, including interest due up to and including the day prior to the date of early redemption) will be paid back on the date of early redemption in accordance with the terms and conditions of the bonds. The date of the early redemption is 7 April 2015.

Further information on exercise of conversion rights and early redemption will be available on the Company website (http://www.tui-group.com/en/ir/bonds_ratings/bonds).

 

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