SDC Investimentos, SGPS, SA (ENXTLS:SDCAE) announced that a private placement of 185 convertible bonds at €100,000 per bond for gross proceeds of €18,500,000 on April 30, 2015. The transaction will include participation from Caixa Capital, S.C.R., S.A. for €15,500,000 and BCP Capital, S.C.R., S.A. for €3,000,000. The company will issue convertible bonds at par.

The convertible bonds carry fixed interest rate of 0.5% per annum payable on July 15 every year, subject to the existence of distributable profits by the company for the year ended December 15 immediately preceding the date of payment of the interest. The bonds are repayable on payable on due date. The bonds will mature on July 15, 2035.

The bonds will be convertible at a conversion price to the greater of the weighted average number of shares of the company between the 10th and the 5th trading day preceding the subscription date and €0.25 per share. The conversion price will be subject to the usual adjustment mechanisms resulting from any events with dilutive effect on capital. The registered capital of the company will increase from €160,000,000 to €178,500,000.

The transaction is subject to shareholders' approval at its annual general meeting.