Ad-hoc | 18 July 2016 20:18
Deutsche Rohstoff AG / Key word(s): Issue of Debt
18.07.2016 20:18
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff AG: Successful completion of bond placement
Proceeds of EUR 40.6 million
Heidelberg. Deutsche Rohstoff AG has successfully completed the placement
of its second bond. The total proceeds from conversion of the old bond
2013/2018 into the new one and placement with institutional and private
investors amounted to EUR 40.6 million. Conversion from the former bond had
the largest share of the placement with EUR 19.5 million. Institutional and
private investors subscribed a total of EUR 21.1 million.
Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: "We are very
satisfied with the placement result in the current challenging market
environment. We have achieved our main objective, which was to
significantly reduce our long-term financing costs."
The new bond with the WKN A2AA05 has a five-year term, maturing on 20 July
2021 with an interest rate of 5.625%. The former bond, which runs until
2018 had an interest rate of 8% p.a. Sole Leadmanager/Bookrunner of the
placement was ICF BANK AG in Frankfurt am Main, who also led the
transaction of the old bond from 2013. Trading of the new bond in the Entry
Standard segment of the Frankfurt Stock Exchange will commence on 20 July
2016.
Deutsche Rohstoff AG currently finances an extensive drilling program in
the United States through its subsidiaries Elster Oil & Gas (EOG) and Cub
Creek Energy (CCE). A total of 25 horizontal wells will begin production in
the coming months. Depending on the development of oil and gas prices,
further wells are planned in early 2017. Overall, EOG and CCE currently
have an inventory of about 110 already permitted wells. At the end of May,
a reserve report confirmed proved and probable reserves of 10 million and
12.5 million barrel of oil equivalent.
Heidelberg, 18 July 2016
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
18.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart;
Open Market (Entry Standard) in Frankfurt
End of Announcement DGAP News-Service
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