Etex successfully refinances its retail bond with a Schuldschein loan - 20/10/2016

Press releaseFollowing keen investor demand, Etex successfully closes a 300 million euro Schuldschein.

Etex completed the placement of a Schuldschein, a loan agreement, on 19 October. It raised its originally planned amount from 150 million euro to 300 million euro following strong investor demand. The Schuldschein has maturities of 5 and 7 years and with both fixed and variable interest rates. It was subscribed to by European and Asian banks and insurance companies.

The Schuldschein was issued to refinance the company’s 400 million euro 5% retail bond, which matures in March 2017. The balance will be financed by Etex’s own cash generation and available credit lines.

The company is pleased with the outcome of the Schuldschein issue. “That we were able to raise 300 million euro testifies to the confidence investors have in Etex”, says Paul Van Oyen, Etex CEO. He adds ”This transaction broadens our investor base at attractive market conditions, increases the number of maturities and considerably extends the duration of our debt profile.”

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