HÖRMANN Industries GmbH is considering the early refinancing of its corporate bond that is scheduled to mature in 2021 (German Securities Code Number (WKN): A2AAZG / ISIN: DE000A2AAZG8). This course of action is being examined with a view to the call option for the existing bond that is available from 21 November 2019 at a price of 101.5%. With this in mind, the company is also examining the issue of a new corporate bond in the coming weeks including an exchange offer for investors of the existing bond. HÖRMANN Industries is aiming to secure and further optimise its medium- to long-term financing structure at an early stage in what is a favourable interest rate environment. The decision on the early redemption of the existing bond and the issue of a new bond will be taken on the basis of the market environment and the outcome of discussions with investors and financing partners. The potential refinancing will be supported by Pareto Securities AS and IKB Deutsche Industriebank AG as joint lead managers.

Technology specialist HÖRMANN Finance GmbH increased its consolidated sales from EUR 418.0 million to EUR 435.4 million in the 2015 financial year and generated positive EBIT of EUR 11.9 million following a slightly negative figure in the previous year (EUR -0.4 million). All three divisions – Automotive, Engineering and Communication – made positive earnings contributions. The main reasons for the positive business development were the capacity adjustment measures in the Automotive segment that were initiated in 2014, which have led to a reduction in staff costs in particular, as well as the improvement in gross profit due to optimised material usage. Consolidated net income after taxes improved to EUR 6.2 million after a net loss of EUR -10.1 million in the previous year.

In the first half of 2016, HÖRMANN Finance GmbH increased its consolidated sales by almost 5% to EUR 207.2 million (previous year: EUR 198.1 million). Growth was achieved in both the Automotive and Service Communication segments. Net income after taxes for the first half of the year improved from EUR -1.4 million to EUR 0.3 million.

The technology specialist HÖRMANN Finance is to offer a new corporate bond (German Securities Code Number (WKN): A2AAZG) with a total volume of up to EUR 30 million and a term of five years. The offer is subject to the nominal placement volume reaching at least EUR 25 million. The annual fixed interest rate for the new bonds will be determined by way of bookbuilding after the end of the offer period on the basis of the subscription orders received and announced in the form of a pricing notice. The subscription period for the public offer begins on 15 November 2016 is scheduled to end at 2:00 p.m. on 17 November 2016 (subject to extension or early conclusion). A range for the interest rate will be set and published prior to the start of the subscription period. The bond is expected to be admitted to trading on the Frankfurt Stock Exchange in the Entry Standard for corporate bonds on 21 November 2016. The public offer is being made in Germany, Luxembourg and Austria. The bonds, each of which has a nominal value of EUR 1,000, can be purchased via banks and online brokers on the Frankfurt Stock Exchange. The issue is being supported by equinet Bank AG and IKB Deutsche Industriebank AG as joint lead managers and joint bookrunners

The technology specialist HÖRMANN Finance will offer a new corporate bond (German Securities Code Number (WKN): A2AAZG) with a total volume of up to EUR 30 million and a term of five years for subscription from this coming Tuesday 15 November 2016. Based on discussions with investors, the range for the annual fixed interest rate was today set at between 4.25% and 4.75%. The final coupon, which will lie within this range, will be determined by way of bookbuilding after the end of the offer phase on the basis of the subscription orders received and announced in the form of a pricing notice. The subscription period for the public offer is scheduled to end at 2:00 p.m. on 17 November 2016, subject to extension or early conclusion. The issue is being supported by equinet Bank AG and IKB Deutsche Industriebank AG as joint lead managers and joint bookrunners.

The new corporate bond of the technology specialist HÖRMANN Finance (German Securities Code Number (WKN): A2AAZG) has met with considerable interest among investors. In response to demand, the subscription period that began today is being shortened and will conclude at 3:00 p.m. today. The subscription period was originally scheduled to end on 17 November 2016.

The technology specialist HÖRMANN Finance has successfully placed its new corporate bond (German Securities Code Number (WKN): A2AAZG) with a total volume of EUR 30 million. In response to strong demand from investors, the issue was concluded at 3:00 p.m. on the first day of the subscription period, which was originally scheduled to end on 17 November 2016. At 4.50%, the annual fixed interest rate is in the middle of the announced range (4.25% to 4.75%). All orders up to and including EUR 4,000 that were placed on time by investors via the Frankfurt Stock Exchange’s subscription functionality were allocated in full; orders with a volume in excess of EUR 4,000 were allocated at EUR 4,000. The start of trading on the Frankfurt Stock Exchange (pre-issue trading) including admission to the Entry Standard for corporate bonds is scheduled for Wednesday 16 November 2016. The issue and value date is 21 November 2016.

Dr.-Ing. Michael Radke will join the management of HÖRMANN Holding GmbH & Co. KG and HÖRMANN Finance GmbH and take over as CEO in the first quarter of 2017. He succeeds Heinz Runte, who will move to the Advisory Board at the same time as planned. CFO Johann Schmid-Davis will remain responsible for the commercial and financial management of the Group.

HÖRMANN Finance GmbH and its existing corporate bond (German Securities Code Number [WKN]: A2AAZG) will move to Deutsche Börse AG’s new ‘Scale’ segment when it launches on 1 March 2017. The successor to the Entry Standard for small and medium-sized enterprises (SMEs) offers increased transparency for investors thanks to more stringent admission and follow-up obligations. The company has already engaged equinet Bank AG as its Deutsche Börse Capital Market Partner.

HÖRMANN Finance GmbH (corporate bond, German Securities Code Number (WKN): A2AAZG) is changing its name to HÖRMANN Industries GmbH. This better emphasises the actual function of the company, as HÖRMANN Industries incorporates the operating subsidiaries of the family-owned HÖRMANN Holding GmbH & Co. KG. Only last year, the technology specialist expanded its investment portfolio to more than 20 subsidiaries by acquiring majority holdings in Funkwerk AG, a listed company, and VacuTec Messtechnik GmbH. The new name also reflects the diversified product portfolio of the equity investments. The medium-sized conglomerate offers a varied range of products in different sectors across its Automotive, Engineering and Communication segments. In the 2015 financial year, it generated consolidated sales of around EUR 435 million, operating EBIT of EUR 11.9 million and consolidated net income after taxes of EUR 6.2 million with a workforce of around 2,300 employees. The Group intends to further extend its strong technological position in the coming years through targeted investments and systematically expand its international activities.