Bechtle successfully placed the convertible bonds announced the day before on the market.
As the IT service provider listed in the MDAX and TecDAX announced, the papers with a total nominal amount of 300 million euros were placed in an accelerated bookbuilding process. The initial conversion price of EUR 54.99 was set with a conversion premium of 30 percent above the reference share price of EUR 42.30.
Bechtle had announced that it would use the net proceeds from the issue to finance further growth, including through acquisitions, at home and abroad, as well as for general corporate purposes.
The convertible bonds with a denomination of 100,000 euros each will be issued and repaid at 100 percent of the nominal amount. The term is seven years. They earn interest at 2.00 percent per year.
Bechtle extends course correction after convertible bond
In view of the placement of a convertible bond, Bechtle shares significantly extended their price correction on Friday. In XETRA trading, Bechtle shares temporarily fell 5.34 percent to 43.05 euros. In the middle of the previous month, they had reached 47.88 euros, their highest level since April 2022.
The Swabians placed unsecured and unsubordinated convertible bonds with a volume of 300 million euros. This means there will be more momentum in takeover activities, commented Jefferies analyst Martin Comtesse. There is over 1.5 billion euros available for new deals. The aim is likely to be to strengthen service expertise in Benelux, Spain, France and Great Britain.
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