German Q-Cells' bond holders name joint representative
Oct 25, 2011 - German solar module maker Q-Cells SE (ETR:QCE) announced today that at a meeting of Q-Cells International Finance the holders of the company's outstanding convertible bond had appointed attorney Carlos Mack as their joint representative.
The convertible bond, which has an original face value of EUR 492.5 million (EUR 685.3m) and EUR 201.7 million outstanding, bears an annual interest of 1.375% and matures at the end of February 2012.
Mack had been authorised by the bond holders to defer the maturity of the convertible bond issue from February 28, 2012, if necessary and under certain circumstances, for a relevant period up to the end of 2012 at the latest. The same applies to claims arising from the guarantee for the convertible bonds assumed by Q-Cells, the company said.