German Ago AG to issue convertible bonds

Oct 24, 2011 - German Ago AG Energie + Anlagen (ETR:AGY), a specialist in energy supply facilities, announced today that it will issue convertible bonds at a subscription ratio of 200:1 in the period from October 25 until November 8.

The convertible bonds have a fixed annual interest of 6%, the company said.

Ago will use the EUR 2 million (USD 2.8m) in proceeds expected from the bonds issue to strengthen the its equity base and to finance further growth of the company, in particular in the divisions of big combined heat and power plants and the production of absorption chillers.

Following a change in its strategy, Ago will focus on the areas combined heat and power plants based on natural gas as well as absorption chillers.

(EUR 1.0 = USD 1.386)

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