euNetworks Group, the operator of all-optical computer networks linking Germany, The Netherlands, UK, France and Belgium, is proposing to undertake a renounceable partially underwritten rights issue of up to $95.8 million worth of zero-coupon convertible bonds due 2013 in the denomination of $1 each, on the basis of one convertible bond for every 100 shares held by shareholders.
The proposed issue price of each convertible bond is 97% of the principal amount of the convertible bonds or 97 cents for each convertible bond.
Based on the minimum issue size, the gross proceeds from the rights issue will be $83.9 million. Based on the maximum issue size, the gross proceeds from the rights issue will be $92.9 million.
