- 2.375 per cent coupon, maturing in 2020
- Attractive interest rate level for long-term refinancing
HELLA Group, one of the world’s leading automotive suppliers, successfully raised an overall of 500 million euro in the capital market from a corporate bond issuance. With coupon interest fixed at 2.375 per cent, the seven-year bond saw strong demand from local and international fund and investment managers. The order book was 5 times oversubscribed. HELLA had already successfully issued a bond for an amount of 300 million euro in 2009, which will be refinanced early with the new issuance. In addition, the transaction serves to further enhance HELLA’s liquidity position and finance its current growth and investment program. The transaction was managed by BNP Paribas, Deutsche Bank and RBS. “With this new bond, we are taking advantage of the attractive capital market environment for a long-term refinancing”, says Dr Wolfgang Ollig, chief finance and controlling officer. “The successful issuance strengthens our financial structure and gives us additional scope for pushing ahead with our business.”
