DGAP-News
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
German Pellets GmbH: 2014/19 corporate bond fully placed, with a total
volume of EUR 100 m.
26.11.2014 / 12:46
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* 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.
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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
* 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
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299619 26.11.2014
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