Shares in Nordex Fall After Convertible Bond Placement
Provided by
Dow Jones
By Sarah Sloat
Shares in Nordex SE fell in early trade Wednesday after the German wind turbine maker said it has placed green convertible bonds with a volume of about 333 million euros ($364.9 million).
Chief Financial Officer Ilya Hartmann said the bonds, which are convertible into new and/or existing ordinary bearer shares, would allow Nordex to strengthen its capital structure while optimizing financing costs.
At 0717 GMT, shares traded 6.1% lower at EUR12.34.
The company said late Tuesday the issuance volume would be approximately EUR350 million.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
April 05, 2023 03:41 ET (07:41 GMT)
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