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Financing / company
Lenzing – Lenzing AG successfully issued a hybrid bond – a subordinated, unsecured bond – with a total volume of EUR 500 million and an interest rate of 5.75 percent. The bond was oversubscribed several times, has an indefinite term and, due to its structural characteristics, will be accounted for 100 percent as equity under IFRS. It was successfully placed following a two-day roadshow with international investors. The denomination of the hybrid bond is EUR 100,000. It is Lenzing’s first hybrid bond on the capital market and will further strengthen the company’s capital structure.
“The success of our hybrid issue underlines the creditworthiness of Lenzing and the trust of the capital market in our company. The completion of the transaction strengthens our balance sheet and is a further step towards diversifying the financing structure”, said Thomas Obendrauf, CFO of Lenzing AG.
BNP Paribas and Morgan Stanley acted as joint global coordinators and structuring advisors, and BNP Paribas, Morgan Stanley and UniCredit acted as joint lead managers.
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Issuer: Lenzing AG
Phone: +43 7672-701-0
FAX: +43 7672-96301
Indizes: WBI, ATX
Inquiries & contact:
Vice President Corporate Communications & Public Affairs
Phone: +43 664 8477802