In October, Jungheinrich AG successfully placed a promissory note bond in the amount of EUR 100 million, thereby securing favourable long-term conditions for the continued financing of the company.
Within the framework of the placement, terms of 5, 7 and 10 years were offered with fixed or variable interest rates. In doing so, the credit margin was fixed at the lower end of the marketing margin. With the issue, Jungheinrich is able to further optimise the maturity profile of the non-current liabilities. The issue serves the purpose of general corporate financing and is a long-term component of the Group’s financing structure.
“We are delighted with the high level of interest shown in this transaction,” said Dr Volker Hues, Chief Financial Officer of Jungheinrich AG. “The high demand is a sign of confidence from the investors in Jungheinrich’s business model and is helping to significantly expand our investor base. This issue is enabling us to strengthen our liquidity and financing structure for continued strategic development at very favourable terms.”
The strong demand from investors led to the issue being oversubscribed several times at an early stage, with the result that the order book had to be closed shortly after the marketing launch. The placement was made with more than 60 investors, primarily from the savings and regional banks as well as the cooperative bank sector. The issue of the promissory note was overseen by Landesbank Baden-Württemberg and Deutsche Bank AG.