Company News • 30.06.2011
Software AG successfully places promissory note for €200 million
- Strong demand exceeded planned volume
- Optimized financial terms
- Further flexibility in financing corporate growth
Software AG has successfully placed promissory note for €200 million in the Euro capital market, assisted in the transaction by Commerzbank AG, Landesbank Hessen-Thüringen (Helaba) and UniCredit Bank AG.
The promissory note was offered with a maturity of three years and at both fixed and variable interest rates. With up to €500 million the strong investor demand exceeded the offering substantially. Hence, the originally planned amount of € 100 million was raised to € 200 million. The spread of both tranches was set at the lower end of the marketing margin.
The placement was effected with more than 70 investors with private banks, state banks and savings banks accounting for the majority. Regionally, most investors come from Germany (79%) and Austria (12%) with the remaining investors in neighboring countries.
The promissory note will replace an existing note. With the now lower rates and higher volume the company opens further flexibility in financing corporate growth.
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