Group Press Releases
Convertible Bond Issue
16 April 2002
Aegis Group plc ("Aegis"), the world's largest independent media buying and market research company, announced today that it has launched an offering of €150 million of Senior Unsecured Convertible Bonds due 2006 (the "Bonds"), convertible into fully paid ordinary shares of Aegis. The Bonds will be priced at 100 per cent of the principal amount and will bear a cash coupon of 2 per cent per annum.
The initial conversion price is expected to be set at a premium of between 25 per cent and 30 per cent to the price of Aegis' ordinary shares at the time of pricing. The yield to maturity is expected to be between 3.625 per cent and 4.125 per cent. The final terms of the Bonds are expected to be announced on or before 17 April 2002. Settlement of the issue is expected to take place on or before 14 May 2002. Société Générale SA ("SG") is acting as Sole Bookrunner and Joint-Lead Manager on this transaction, with ABN AMRO Rothschild acting as Joint-Lead Manager and Broker. ABN AMRO Rothschild is the unincorporated equity capital markets joint venture between ABN AMRO Bank N.V. and N M Rothschild & Sons Limited. In addition, Aegis has granted the Joint-Lead Managers of the offering an over allotment option of up to 10 per cent of the issue. The net proceeds of the issue, after expenses, will be used for a combination of the payment of earnout obligations of approximately £30m and refinancing maturing bank debt. It will also enhance Aegis' flexibility for funding future infill acquisitions in line with the Group's stated strategy of building its global media and market research businesses. Application will be made for the Bonds to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange plc for the Bonds to be admitted to trading on the London Stock Exchange's market for listed securities. The Bonds will be offered outside the United States in compliance with Regulation S.
