Home / Knowledge / News / Fashion / Fashion Retailer Baltika issues convertible bonds of €3mn
Fashion Retailer Baltika issues convertible bonds of €3mn
21
Apr '14
Baltika Supervisory Council decided on 26th of March 2014 meeting to change the decision taken on 26th of February, regarding convertible bonds. Based on the latest decision the amount will increase from 2 million euros to 3 million euros, the interest rate will decrease by one percentage point and the share conversion price will be changed.
 
The increase in amount is due to the risks concerning Russian and Ukrainian markets. The Council found it necessary to increase the financing of the Group due to the escalating risks on Eastern-European market and possible effects on financial results, also due to Baltika’s plan aimed to decrease the risks on these markets.
 
Council decided, on 26th of March 2014, to propose to the Annual General Meeting of shareholders, to issue convertible bonds with bondholder option in the total amount of 3 million euros. Proposal is for issuance of 600 convertible bonds with issuance price of 5,000 euros.  
 
The subscription for the bonds will take place from 14th to 28th of July 2014. The bond will bear 6.5% interest p.a. and each bond will give its owner the right to subscribe 10,000 AS Baltika shares of the company with subscription price 0.5 euros. Details will be included with the Annual General Meeting proposed resolutions on 4th April 2014. Largest shareholder of Baltika KJK Fund, Sicav-SIF will take up the offer in full amount if needed.

Baltika


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Jan 2021

China's textile & garment exports rise 9.6% in 2020

Despite the COVID-19 pandemic and global economic slowdown, textile...

Pic: Shutterstock

Textiles | On 26th Jan 2021

Vietnam, Israel to sign labour cooperation pact this year

Israel and Vietnam recently initiated negotiations over a labour...

Pic: Shutterstock

Fashion | On 25th Jan 2021

Boohoo buys Debenhams brand, website, but not its stores

Boohoo has reportedly purchased Debenhams brand and website for £55...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Vikram Juneja,

Vikram Juneja

Jaquard is a training institute providing a highly specialised training...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search