June 28, 2019

Press release

Rosenbauer places first promissory note bond of EUR 150 million

  • Order book oversubscribed more than twice over
  • Coupons at lower end of marketing range

Rosenbauer International AG has issued a promissory note bond (“Schuldscheindarlehen”) for the first time in its history. With a final issue volume amounting to EUR 150 million plus USD 10 million, the order book was oversubscribed more than twice over. The promissory note was placed in tranches with terms of three, five and seven years and was offered both with fixed interest and with floating-rate interest. For each of the individual tranches, the coupon was at the lower end of the marketing range. The issue proceeds will be used to refinance existing liabilities and for the planned organic growth in the years ahead.

“I am delighted about this successful debut on the debt market and the strong interest from investors. This is an impressive vote of confidence,” says Sebastian Wolf, Chief Financial Officer of Rosenbauer International AG. “With our first placement of a promissory note bond, we adapt our financing strategy in terms of a better predictability and we are securing very favorable interest rates on a long-term basis. Thus, the further development of our group is on a solid financial basis.”

The transaction was supported by Erste Group Bank AG as the lead arranger and Raiffeisen-Landesbank Oberösterreich AG as the co-lead arranger. Demand for the promissory note bond was widely diversified with around 50 individual orders. 85% of the volume was subscribed for by Austrian investors and 15% by international institutional investors.

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