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Munich, December 4, 2014 – Allgeier SE (ISIN DE0005086300, WKN 508630) has successfully placed a borrower’s note loan in an amount of EUR 80 million on the capital market.
As part of the placing, the borrower’s note loan was offered with both fixed and variable coupons with maturity tranches of 5 and 7 years. Strong investor demand resulted in significant oversubscription for the transaction. The originally planned volume was subsequently topped up to EUR 80 million. Of this amount, EUR 66.5 million is attributable to the 5-year maturity and EUR 13.5 million to the 7-year maturity. For both tranches, the spread was set at the lower end of the marketing range, and amounts to 140 basis points for the 5-year tranche and 170 basis points the 7-year tranche.
The placing was realised among 18 investors, especially private banks, Landesbanks and savings banks from Germany and Austria. Most of the investors had already subscribed for the previous borrower’s note.
The proceeds from this new borrower’s note loan will fully repay, as of its final maturity date, the EUR 29.5 million of the 3-year tranche of the existing borrower’s note loan that was placed in spring 2012. In addition, the variable 5-year and 7-year tranches of the previous borrower’s note loan will be repaid early in amounts of EUR 18 million and EUR 2 million respectively. As a consequence, the new borrower’s note loan serves to refinance existing bonds in an amount of around EUR 50 million.
The new borrower’s note loan generates medium- and long-term financing security for the entire Allgeier Group on significantly improved terms. The additional borrowing volume also creates additional scope to finance corporate growth and targeted acquisitions in future-oriented markets.