ST. GALLEN, Switzerland, June 16, 2005 (PRIMEZONE) -- The repayment of the 2% convertible bond in the amount of CHF 150 million is carried out as of today. The bond was convertible into registered shares of Helvetia Patria Holding and was issued by the financing company Helvetia Finance Ltd., Jersey.
On June 16, 2000, Helvetia Finance Ltd, Jersey, successfully placed in the capital market a convertible bond in the amount of CHF 150 million with a guarantee from Helvetia Patria Holding. During the entire duration, the investors had the right to convert their bonds into registered shares of Helvetia Patria Holding. As a result of the stock split and the increase of the shareholders' equity of Helvetia Patria Holding, both carried out in the mean time, the conversion price was adjusted accordingly. A bond with a denomination of CHF 5,000 could be converted after the adjustment into 15.629884 registered shares of Helvetia Patria Holding with a nominal value of CHF 10 per share, thus corresponding to a conversion price of CHF 319.90 per registered share.
The entire convertible bond is being repaid today since no conversion rights were exercised during its maturity period. The last interest payment was effected as of today as well. 400,312 own registered shares of Helvetia Patria Holding, held in deposit as an additional guarantee for the conversion rights, are available again with the repayment of the bond.