SCHMOLZ+BICKENBACH AG launches High Yield Bond
SCHMOLZ+BICKENBACH AG has announced that it intends to privately place with investors pursuant to Regulation S and Rule 144A under the US Securities Act approximately EUR 300 million of senior secured bonds due 2019 (the “Bonds”) via its Luxembourg subsidiary SCHMOLZ+BICKENBACH Luxembourg S.A. The Bonds will rank pari passu with SCHMOLZ+BICKENBACH AG's senior secured credit facilities. The closing is expected to occur in mid May 2012. Proceeds from the Bonds will be used to repay a portion of the debt outstanding under the senior secured credit facilities and for general corporate purposes. With the proposed Bonds, SCHMOLZ+BICKENBACH AG intends to diversify its funding structure and significantly extend its maturity profile. The Bonds are expected to be listed on the Luxembourg Stock Exchange and to be traded on the Euro MTF market.
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