Componenta decided to defer interest payment of hybrid bonds

Componenta Corporation Stock Exchange Release 13.2.2014 at 16.30

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| Source: Componenta Oyj
multilang-release

Componenta Corporation issued two subordinated hybrid bonds in 2012 and 2013. The current principal of the hybrid bond issued on 29 March 2012 is approximately 4.5 million euros, and the current principal of the hybrid bond issued on 2 September 2013 is approximately 33.7 million euros. According to the terms and conditions of the hybrid bonds, the Company is, subject to certain restrictions defined in the terms and conditions of the hybrid bonds, entitled to decide to pay the interest on the hybrid bond annually either on the interest payment date or to defer the interest payment. The next interest payment date is 29 March 2014. For now, the Board of Directors has decided to defer the interest payment of the hybrid bonds. The purpose of the deferment of the interest payments is to strengthen the Company’s financial position and liquidity.  

Helsinki, 13 February 2014  

COMPONENTA CORPORATION  

 

Heikki Lehtonen
President and CEO 

 

For further information, please contact:

Heikki Lehtonen
President and CEO
tel. +358 10 403 2200 

Mika Hassinen
CFO
tel. +358 10 403 2723  

 

 

Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 511 million in 2013 and its share is listed on the NASDAQ OMX Helsinki. The Group employs approx. 4,400 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.