SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP
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22 Non-trade Debts<br />
22.1 Issue of debentures<br />
On September 15, 1999 Sol Meliá, S.A. carried out the so-called “Issue of Convertible Debentures of Sol Meliá, S.A.,<br />
September 1999”, amounting to Euros 2<strong>00</strong> million, the main characteristics of which are as follows:<br />
Amount of the issue € 2<strong>00</strong>,<strong>00</strong>0,<strong>00</strong>0<br />
Par value of bond: € 1,<strong>00</strong>0.<strong>00</strong><br />
Maturity:<br />
5 years<br />
Debt status:<br />
Senior (Not subordinate)<br />
Issue price: 1<strong>00</strong>.<strong>00</strong>%<br />
Issue date: September 15, 1999<br />
Maturity date: September 15, 2<strong>00</strong>4<br />
Coupon:<br />
1.<strong>00</strong>% (e10,<strong>00</strong>) annual upon maturity<br />
Maximum and minimum conversion price: 16.81 / 15.<strong>00</strong> (35.54% / 21.<strong>00</strong>%)<br />
Minimum conversion premium: 21.<strong>00</strong>%<br />
Conversion ratio:<br />
66.6489 shares per Bond<br />
Redemption price: 112.02%<br />
Bond yield upon maturity: 3.25%<br />
Possibility of cancellation by issuer: After the third year. (Subject to limit of 130%<br />
e19.51)<br />
Credit quality:<br />
BBB+<br />
Maximum of shares to be issued: 13,329,779<br />
The balance at December 31, 2<strong>00</strong>0 is as follows:<br />
Issue principal 33,277,2<strong>00</strong><br />
Accrued interest at 2.25% 1,035,534<br />
TOTAL 34,312,734<br />
Sol Meliá, S.A. guarantees this issue of debentures amounting to Euros 2<strong>00</strong> million with the Total Equity of the Company.<br />
S OL<br />
M ELIÁ<br />
A NNUAL R EPORT 2<strong>00</strong>0<br />
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