German Pellets GmbH i.I.
German Pellets GmbH: 2014/19 corporate bond fully placed, with a total volume of EUR 100 m.
DGAP-News: German Pellets GmbH / Key word(s): Bond 26.11.2014 / 12:46 --------------------------------------------------------------------- * New placement secures implementation of the international growth plans * Early refinancing of the 2011/2016 corporate bond meets with positive feedback Wismar, 26 November 2014: German Pellets GmbH, one of the world's largest producers and traders of wood pellets, has proved itself able to fully place its 7.25% 2014/19 corporate bond (ISIN: DE000A13R5N7), with a total volume of EUR 100 m. The bulk of the capital obtained comes from international private placement among institutional investors. At EUR 74 m., the investors' level of interest significantly exceeded the volume initially targeted for new subscriptions, set at up to EUR 50 m. "We are happy about the successful placement. The strong level of interest confirms our business model and our investment projects in the US, associated with that model", says Peter H. Leibold, Managing Director of German Pellets GmbH. The new influx of resources means that the company will drive forward its further internationalisation, as announced, and also extend its value chain in a targeted way. It is planned to make investments in the expansion of wood-pellet production in the US and also in the building-up of saw-mill and product-sorting capacities at the US sites. In addition, a volume of almost EUR 26 m. was exchanged, equating to a bond-exchange level of around 32% for current investors replacing their 2011/16 corporate bonds by 2014/19 corporate bonds. By this means, the investors expressed their endorsement of the company's strategy of early and active refinancing. "We wish to use the new incoming capital, going beyond the investment requirement for the planned realisation of our international growth plans, to make a further partial redemption of the 2011/16 corporate bond and to refinance. We will decide in the near future regarding specifically what measures will be taken", Leibold remarked regarding the further financing plans. The 2014/19 corporate bond has now been able to be traded at the Frankfurt Stock Exchange since 25 November 2014, on a when-issued basis. The bond is listed in the Prime Standard segment for corporate bonds. The bond issue was accompanied by quirin bank AG as the lead manager and sole book-runner, with Steubing AG as co-lead manager. quirin bank AG also operated as dealer manager and as the central organisation for processing of the bond exchange. --------------------------------------------------------------------- 26.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 299619 26.11.2014
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found