Holcim said it plans to redeem ahead of schedule two convertible bonds with a face value of SwFR131m and US$22m, respectively.
The Swiss cement maker said the bonds, which mature in 2012 and 2017, will be redeemed on July 13. Holders will be able to exercise their conversion rights until July 4.
As of March 31, the bonds’ combined book value was SwFr784m.
Conversion of all outstanding bonds from both issues will result in 1,736,479 new shares being issued, Holcim said.