Feintool International Holding floats convertible bond issue for CHF 62 582 500, with advance subscription rights

Feintool International Holding of Lyss (Berne) is issuing bonds for CHF 62 582 500 convertible into the company''s registered shares (par value CHF 50 each). The bond issue will be used for financing recent acquisitions and for future growth of the Feintool group. A bank syndicate lead-managed by Warburg Dillon Read, Zurich, the investment banking division of UBS AG, is underwriting the issue.

The shareholders of Feintool International Holding (as at 7 February 2000) will get non-tradable advance subscription rights on this issue from 11 February 2000 until 15 February 2000, 4 pm.

Each registered share entitles one advance subscription right upon the holder. For each convertible bond (par value CHF 2500), 22 advance subscription rights are required.

The maturity period of the bonds will be 5 years, i.e. until 28 February 2005. However, the issuer has a right of early call after 3 years. The bonds may be converted into registered shares of Feintool International Holding free of charge at any time during their life (American style), subject to the terms of the bonds. To secure the conversion rights, Feintool International Holding has reserved the required number of registered shares by the conditional capital increase approved at the AGM 2000.

The interest rate on this convertible bond will be 1.75% - 2% at an issue price of 100%. The conversion premium will be between 13% and 17%. The definitive terms will be fixed on 15 February 2000 and subsequently published. The bonds will be listed on the SWX Swiss Exchange.

The syndicate banks will offer the convertible bonds for public subscription until 18 February 2000, 12.00 noon at the latest. The payment date will be 28 February 2000.