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 half of 2012/13 at about 104 (% 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 September 2012, the price was at about 103 (% 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. From the very beginning, demand on the part of investors was very strong, and this was manifested by the positive development of the price. Particularly in the 2012 calendar year, the price rose significantly. As of the end of the second quarter of 2012/13, the price of this corporate bond was at more than 108 (% of the face value).

Corporate bond 3 (2012–2018)

At the end of September 2012, voestalpine successfully placed another bond issue on the capital market with a volume of EUR 500 million and an interest rate of 4%. The bond was subscribed primarily by international investors, mainly from Germany, Switzerland, and the UK. The order book totaled EUR 1.7 billion and included 270 investors. Issue of the bond and the start of official trading was on October 2012 on the Luxembourg Stock Exchange.

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

  • Baader Bank AG, Munich
  • 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
  • Goldman Sachs, London
  • HSBC, London
  • Jefferies, London
  • JP Morgan, London
  • Kepler, Frankfurt
  • MainFirst, Frankfurt
  • Morgan Stanley, London
  • Nomura, London
  • Raiffeisen Centrobank, Vienna
  • Steubing, Frankfurt
  • UBS, London.
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  • Share price as of September 30, 2012 (euros) 23.29    EPS – Earnings/share (euros) 1.98    Dividend/share (euros) 0.80
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