HÖRMANN Group successfully issues its new bond

The technology specialist HÖRMANN Finance has successfully placed its new corporate bond (German Securities Code Number (WKN): A2AAZG) with a total volume of EUR 30 million. In response to strong demand from investors, the issue was concluded at 3:00 p.m. on the first day of the subscription period, which was originally scheduled to end on 17 November 2016. At 4.50%, the annual fixed interest rate is in the middle of the announced range (4.25% to 4.75%). All orders up to and including EUR 4,000 that were placed on time by investors via the Frankfurt Stock Exchange’s subscription functionality were allocated in full; orders with a volume in excess of EUR 4,000 were allocated at EUR 4,000. The start of trading on the Frankfurt Stock Exchange (pre-issue trading) including admission to the Entry Standard for corporate bonds is scheduled for Wednesday 16 November 2016. The issue and value date is 21 November 2016.

Johann Schmid-Davis, CFO of HÖRMANN Finance GmbH, commented, ‘We are delighted to see such enormous interest from investors and would like to thank them for demonstrating their faith in us. With this bond, we are illustrating our ongoing commitment to a diversified financing structure and will continue our success story on the capital market.’

The net issue proceeds from the new bond will be used for early repayment of the outstanding EUR 50 million 2013/2018 bond (WKN: A1YCRD), which will be terminated prematurely on 5 December 2016. Cash will be used in addition to those proceeds to repay the bond in full, thereby reducing the overall financial liabilities of the HÖRMANN Finance Group.

The issue has been overseen by equinet Bank AG and IKB Deutsche Industriebank AG, acting as joint lead managers and joint bookrunners, with Clifford Chance serving as legal advisers and IR.on AG as communications consultants.