Mutares today successfully placed EUR 50 million of senior secured bonds

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Mutares today successfully placed EUR 50 million of senior secured bonds

  • Senior secured bond fully placed in the amount of EUR 50 million
  • Terms as expected with a margin of 600 basis points
  • Securing financing to fuel further inorganic growth of the portfolio and value-increasing capital expenditure
  • Listing on the open market of the Frankfurt Stock Exchange and the Nordic ABM segment of the Oslo Stock Exchange expected in February 2020

 

Munich, January 31, 2020 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) (“Mutares”) one of the leading turnaround investors, today has successfully placed EUR 50 million of senior secured floating rate bonds with 4-year maturity under Norwegian law. The bonds shall carry interest at EURIBOR (three months), EURIBOR floor at 0 percent, plus a margin of 600 basis points and can be increased up to EUR 80 million. The transaction was well received by the market. Mutares has applied for inclusion of the bonds to trading on the regulated unofficial  market (open market) of the Frankfurt Stock Exchange and on the Nordic ABM segment of the Oslo Stock Exchange. Pareto Securities acted as a sole bookrunner in the transaction.

With this transaction, Mutares aims at more flexibility in supporting its portfolio companies strategically in their development while continuing its combined business model of operative turnaround management and acquisitive growth of its portfolio companies. The bonds proceeds shall be used to enable fast solutions for selected add-on acquisitions of portfolio companies.

Robin Laik, CEO and with 29% largest shareholder of Mutares: “With our strategy to develop our portfolio companies actively through add-on acquisitions and through hands-on, daily operational support, we have now grown our portfolio to almost 2 billion in annualized revenues. And we are still aiming at continuing our value-oriented path for growth through buy-and-build strategies. Looking at our latest success stories, we have followed these strategies with STS Group, Balcke-Duerr Group and lately with Donges Group. For us, this is reflected in the successful placement of today’s bond issues which shows that the good development of Mutares also has been recognized by investors and stakeholders.”

 

 

Disclaimer

This release is neither a financial analysis nor advice or recommendation relating to financial instruments, nor does it contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities of Mutares to any person in Australia, Canada, Japan, or the United States of America (the “United States”) or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

The securities referred to herein have not been and will not be registered under U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent such registration, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.

Certain statements in this release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this notification.