Siemens issues bond with warrant units in an aggregate volume of $3 billion

Siemens has successfully finalized the placement of the bond with warrant units which was started this morning. With an aggregate volume of $3 billion, this is the biggest issuance by a European corporate in this market segment for the past ten years. The bonds with the term of 5.5 years have a volume of $1.5 billion and a coupon of 1.05% per annum; the bonds with the term of 7.5 years have the same volume of $1.5 billion and a coupon of 1.65% per annum. The exercise price was fixed at 137.5% of the reference price. On that basis, the exercise price amounts to €104.0018 per share. At issuance, one warrant will entitle its holder to receive 1806.1496 Siemens shares against payment of about €188,000. Thus the warrants result in option rights relating to a total of about 21.7 million Siemens shares. "With this successfully placed transaction we have fully achieved our goal of gaining optimized financing, tapping into attractive market demand", Siemens CFO Joe Kaeser stated.