German Pellets GmbH i.I.
German Pellets GmbH: German Pellets issues new 7.25 % corporate bond
Press Release German Pellets issues new 7.25 % corporate bond – Early refinancing of 2011/16 corporate bond envisaged by offering a voluntary exchange – Intention to further expand wood-pellet production in the USA – Examining the opportunity to open up new stages of value-creation by building up saw-mill and sorting facilities at US sites Wismar, 07 November 2014: German Pellets GmbH, one of the world’s largest manufacturers and traders of wood pellets, is issuing a new corporate bond in the Prime Standard for corporate bonds segment at the Frankfurt Stock Exchange. In the context of a public offer, German Pellets will issue a corporate bond in the volume of up to EUR 100 m with an option to increase by up to EUR 30 m to EUR 130 m. This includes also a voluntary exchange offer for the 2011/16 EUR 80 m corporate bond due on 1 April 2016. German Pellets is planning to use the net proceeds firstly for refinancing the 2011/16 corporate bond, secondly for further growth in the context of internationalisation of the production capacities for wood pellets in the USA, and lastly for building-up the saw-mill capacities and sorting capacities at the US sites, so as to attain new stages of value-creation in wood-processing. “Through our access to the capital markets, after two successful bond issues, we have been able to drive forward our growth plans decisively. By having realized targeted investments and acquisitions, we have strengthened our sales network and further expanded our international production capacities. Now we have decided to refinance ahead of the 2011/16 bond’s maturity date and to launch a new bond . With the planned listing in the Prime Standard for corporate bonds, the quality segment for bonds at the Frankfurt Stock Exchange, we feel well-positioned and can offer investors a high level of transparency and liquidity”, notes Peter H. Leibold, Managing Director of German Pellets GmbH. The offer is aimed at institutional investors and also private investors, the new notes have a EUR 1,000 denomination. Looking ahead, German Pellets is examining further financing instruments outside the bond sector. The exchange offer invites holders of the existing 2011/16 corporate bond (ISIN: DE000A1H3J67) to exchange their bonds 1-to-1 for new notes issued by German Pellets, with a 5 year maturity and a 7.25% coupon. Bond-holders that accept the exchange offer receive a EUR 25 cash payout (the “incentive payment”) per bond (nominal amount: EUR 1,000) in addition to the accrued interest on the 2011/16 corporate bond. Consequently, within the framework of this exchange offer, new notes with a maximum total nominal value of EUR 80 m. could be issued. The exchange period runs from 10 November 2014 to and including 21 November 2014 (6.00 p.m. Central European Time) subject to an early termination or optional prolongation. At any time, the outstanding 2011/16 corporate bond can be called by German Pellets, in whole or in part, at a price of 100.5%. Holders of the 2011/2016 corporate bond that accept the exchange offer are also invited to reinvest the incentive payment in the 2014/19 bond (ISIN: DE000A13R5N7). The reinvestment is independent of the exchange and is being managed independently of it. Additionally to the new notes to be issued in the context of the exchange offer, German Pellets is planning to issue further notes up to a maximum total nominal amount of EUR 50 m. The public offer and also the private placement with regard to the new 2014/19 corporate bond commence on 10 November 2014. Subject to the right being reserved to terminate ahead of the original schedule, investors can subscribe for the new notes, using the subscription functionality of the Frankfurt Stock Exchange, from 13 November to and including 24 November 2014 (12.00 noon, CET). quirin bank AG, Berlin, is acting as sole lead manager and sole book-runner and Steubing AG, Frankfurt, is acting as co-lead manager for the issue of the 2014/19 corporate bond. quirin bank AG is also acting as dealer-manager and exchange agent for the exchange offer. The issue of the new 2014/19 corporate bond and the exchange offer are taking place in the context of a public offering in the Federal Republic of Germany, the Grand Duchy of Luxembourg, and the Republic of Austria. The approved prospectus consisting of a registration form and the description of the security, can be requested free of charge from German Pellets GmbH, Am Torney 2a, 23970 Wismar. The documents are also held available for download at www.german-pellets.de/anleihe. Holders of the 2011/16 corporate bond will obtain further details on the exchange offer and on the new issue directly from their custodian banks. Further information is also obtainable daily from 9.00 a.m. to 6.00 p.m. CET on the number +49 (0) 3841 / 30 30 66 66. Please direct any e-mail enquiries to geldanlage@german-pellets.de. Further information is available on the Internet at www.german-pellets.de. Press contact Business and finance media Key data on the offer for the new 2014/2019 corporate bond Offer period: 10 to 24 November 2014 (12.00 noon, offer may close before this) Exchange period: 10 to 21 November 2014 (6.00 p.m., offer may close before this) Opening of the subscription functionality: 13 November 2014 Volume of issue: up to EUR 100 m. (option on an increase of up to EUR 30 m.) WKN / ISIN: A13R5N / DE000A13R5N7 Interest-rate (coupon): 7.25 % Term: 5 years Interest payment: annually in arrears (ICMA act/act) Issue price: 100 % Company rating: BB+ (Creditreform Rating AG) Denomination: EUR 1,000 each Type of security: Bearer bond Stock-exchange segment: Prime Standard for corporate bonds, Frankfurt Stock Exchange Investors’ protection rights: Negative pledge clause, change of control, cross default, reporting
Legal notice End of Media Release Issuer: German Pellets GmbH Key word(s): Energy 07.11.2014 Dissemination of a Press Release, 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 |
295954 07.11.2014 |