Hybrid bond (2007–2014)

Within the scope of financing the acquisition of the BÖHLER-UDDEHOLM Aktiengesellschaft, voestalpine AG issued a subordinated hybrid bond in October 2007 with an issue volume of EUR 1 billion and a coupon rate of 7.125%. The earliest possible call option by voestalpine AG is in October 2014. During its first two years, the hybrid bond traded consistently under its initial offering price due to the generally difficult financial and economic situation, reaching its lowest price at 75 (% of the face value) in the spring of 2009. Subsequently, the bond’s price started to rise in early 2010. Since then it has continued its very positive development, closing at the end of the first quarter of 2012/13 at about 105 (% of the face value).

Corporate bond 1 (2009–2013)

In order to secure the Group’s liquidity, in March 2009, voestalpine AG issued a corporate bond with a volume of EUR 400 million and a coupon rate of 8.75%. The bond will be redeemed in the spring of 2013. Demand for the bond was very strong right from the beginning and about one year after being issued, it reached a high of more than 114 (% of the face value). The price of the bond is trending downward as the time of repayment is approaching. At the end of June 2012, the price was at about 105 (% of the face value).

Corporate bond 2 (2011–2018)

In early February 2011, voestalpine AG successfully placed a seven-year bond issue on the capital market with a coupon rate of 4.75% and a volume of EUR 500 million. Interest in this bond was unusually high so that the order book attained a volume of more than EUR 700 million, much higher than the originally planned transaction of EUR 300 to 400 million. Trading of the bond began on February 3, 2011 in the regulated over-the-counter market of the Vienna Stock Exchange. While the bond price at the beginning of April was still just under the issue price, there were continuous gains leading up to the end of June. The closing price of the security on June 30, 2011 was at 103 (% of the face value).

voestalpine AG is currently being analyzed by the following investment banks/institutions:

  • Bank of America/Merrill Lynch, London
  • Barclays Capital, London
  • BHF-BANK, Frankfurt
  • Citigroup, London
  • Commerzbank, Frankfurt
  • Credit Suisse, London
  • Davy, Dublin
  • Deutsche Bank, London
  • Erste Bank, Vienna
  • Exane BNP Paribas, Paris
  • HSBC, London
  • JP Morgan, London
  • Kepler, Frankfurt
  • MainFirst, Frankfurt
  • Nomura, London
  • Raiffeisen Centrobank, Vienna
  • Steubing, Frankfurt
  • UBS, London
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  • Share price as of June 30, 2012 (euros) 20.86    EPS – Earnings/share (euros) 0.74    Dividend/share (euros) 0.80
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