This transaction has a total size of 100 million euros, with a volume split in two halves, with tenors of five and seven years, respectively.
The company will use this instrument to refinance the promissory note bond it has been redeeming on schedule since the beginning of December as well as several large-scale investment projects of the last few years and to top up its strategic liquidity reserve. “We are pleased about the huge interest in this transaction,” says Dr. Volker Hues, Chief Financial Officer of Jungheinrich AG. “The high demand is evidence of the trust investors place in the Jungheinrich business model and will help widen our investor base considerably.”
The strong demand among investors resulted in a multiple oversubscription, enabling the originally planned volume of 75 million euros to be increased to 100 million euros. The spread was set at the lower end of the marketing margin. The bond was placed among over 70 investors primarily from the sectors for the Landesbanken (regional banks) and savings banks. The promissory note’s issuance was arranged by Commerzbank AG and Landesbank Hessen-Thüringen Girozentrale.
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