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GEA places borrower’s loan note in the amount of EUR 250 million
26 Feb 2018
GEA has successfully issued a borrower’s loan note in the amount of EUR 250 million. Realigning its funding structure, the Düsseldorf based technology group offers four tranches with maturities of five and seven years, each subdivided into a fixed rate and a variable rate portion.
The loan note was placed with institutional investors at home and abroad. With the order book being several times oversubscribed, interest spread conditions could be fixed at the lower end while it was possible to raise the originally planned issuance volume.
“The enormous demand on the part of debt investors is yet another vote of confidence in our financial standing and capabilities”, commented Dr. Helmut Schmale, CFO of GEA Group Aktiengesellschaft. “Issuing this loan note, we are capitalizing on the currently positive capital market environment. Following several years of non-commitment, we reassume long-term financial liabilities to replace short-term bilateral lines of credit granted by banks. GEA opted for two maturities to reap the benefits of the record low interest rates in the long run while putting its lender base on a sound footing.”
Bayrische Landesbank, DZ BANK and HSBC acted as joint book runners.
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GEA Group Aktiengesellschaft
Peter-Müller-Str. 12
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Düsseldorf
Germany
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