- Emission volume: EUR 75.5 million
- Separate tranche for notable Asian investors
- Improved financing costs
- Additional digital placing
POLYTEC Holding AG has been able to successfully place a promissory note bond (schuldschein loan) on the market. The bond was offered with maturity periods of five, seven and ten years.
Despite the difficult market situation, the promissory note bond was slightly oversubscribed, which allowed the originally planned volume of EUR 70 million to be raised to EUR 75.5 million. In particular, Austrian and German investors took up the bond. The tranches for European investors were already allocated in November 2018.
Owing to the strong demand from Asia, in January 2019 a separate tranche was issued for Asian investors.
Following the conclusion of the transaction, the POLYTEC GROUP disposes over liquidity of around EUR 95 million. The now issued bond, which bears an historically low interest rate, will be employed for the repayment of a loan against a promissory note due in 2019 and the securing of POYLTEC GROUP’s further strategic and operative growth potentials.
Raiffeisen Bank International AG accompanied the placing of the promissory note bond as the lead arranger. The Bank of China (Hungary) Close Ltd. Vienna Branch acted as the co-arranger of the “Asian” tranche.