© Leoni Electronics Production | December 12, 2018
Leoni places borrower’s note loan for more than EUR 300 million
Leoni AG says that it has successfully placed a borrower’s note loan (Schuldscheindarlehen) in the amount of EUR 331 million. The borrowed funds will make a major contribution to providing the long-term finance for the group’s future development.
Leoni had planned to issue the loan in the amount of EUR 200 million. As the order was significantly oversubscribed by more than 50 investors, the company was able to generate a volume of EUR 331 million. With terms of five to ten years, Leoni has ensured that sufficient capital will be available to invest in extensive projects that have a similarly long lifespan. Leoni managed to sign the loan on favourable terms that comprise deals involving both fixed and variable interest rates. “In a tough market, Leoni was very successful in placing a considerable borrower’s note loan deal on good terms. We have thereby given ourselves long-term financial scope for action on pursuing the Group’s strategic development,” says Karl Gadesmann, CFO of Leoni AG, in an update. “The decidedly positive response from investors demonstrates confidence in Leoni’s creditworthiness and its business model,” Gadesmann added.
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