KUKA AG issued a promissory note loan (Schuldscheindarlehen) with a total volume of € 250 million. The originally planned volume of € 150 million has been increased because the issue was heavily oversubscribed. The additional funds will be used as a basis for further growth.
The overall volume of the loan was issued in two tranches with maturities of five and seven years at a fixed interest rate averaging 1.35 percent. As the demand from investors clearly exceeded the originally targeted financing volume of € 150 million, KUKA had raised the volume of the issue to € 250 million in the course of the marketing process.
The two arrangers and joint bookrunners, Landesbank Baden-Württemberg and UniCredit Bank AG, succeeded in placing the Schuldscheindarlehen with a large pool of investors despite the increasingly challenging market environment during the marketing phase.
KUKA was highly satisfied with the progress and outcome of the issue. KUKA CFO Peter Mohnen said: “This Schuldscheindarlehen is a key component in funding KUKA’s continued growth. We are delighted about the associated vote of confidence from the investors.”