Salzgitter AG Successfully Places €500 Million Bonds Exchangeable for Aurubis Shares

Salzgitter AG has announced the successful placement of €500 million in senior unsecured bonds due 2032, exchangeable for existing shares of Aurubis AG. The bonds carry a coupon rate of 3.375% and are set at an exchange price of €145.80. This strategic financial move aims to support SALCOS stage one expenditure, restructuring measures, and diversify the group's financing structure.

The bonds, expected to be issued on 22 October 2025, have a maturity of seven years. They allow early redemption under specific conditions related to Aurubis AG's share performance. Initially, 3.4 million shares of Aurubis, equating to approximately 7.6% of its share capital, underpin the bonds. A concurrent Delta Placement facilitated by Joint Global Coordinators allows certain subscribers to hedge their market risks.