Vienna – Semperit Group has announced its largest ever capital market transaction with the issue of corporate ‘schuldschein’ loans valued at over €140 million.
The placement, in three foreign currencies, was much higher than originally targeted due to good national and international investor demand, the Austrian rubber-producer said 7 Nov. Pricing, it added, was at the lower end of the notified range.
The corporate loans – tranches in US dollars, Polish zlotys and Czech crowns, with maturities of three, five and seven years – will help 'optimise' the group's financial structure, said a Semperit statement.
The funds have been earmarked for, among other things, re-financing existing financial liabilities and expansion of production sites.
By issuing these loans “in foreign currencies for the first time, we are able to secure our funding on attractive terms in currencies of important procurement, production and sales markets,” said Johannes Schmidt-Schultes, CFO of Semperit.