Salzgitter AG Announces €500 Million Bond Offering Exchangeable for Aurubis Shares

Salzgitter AG has initiated a €500 million bond offering, exchangeable for existing shares of Aurubis AG. Approved by the company's Supervisory Board, these senior unsecured bonds are set to mature by 2032. The issuance aims to diversify group financing while funding general business needs and restructuring efforts.

The bonds, issued via an accelerated bookbuilding, target institutional investors outside of several jurisdictions, including the US, Australia, and Canada. Expected to bear an interest rate of 2.875% to 3.375% per annum, the bonds may be redeemed early under specific conditions. The initial exchange price will be set with a premium above the current Aurubis share price.

BNP PARIBAS, alongside other major banks, is coordinating this transaction. Final bond terms will be disclosed by October 15, 2025.