HÖRMANN Group sets interest range for new corporate bond

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 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 offer is subject to the nominal placement volume reaching at least EUR 25 million. The net issue proceeds will be used for early repayment of the outstanding EUR 50 million 2013/2018 bond (WKN: A1YCRD), which will be terminated prematurely on 5 December 2016 once the new bond has been issued. Cash will be used in addition to those proceeds to repay the bond in full, thereby reducing the overall financial liabilities of the HÖRMANN Finance Group. 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 prospectus, approved by the CSSF (Commission de Surveillance du Secteur Financier), which is responsible for financial regulation in Luxembourg, is available to download at https://www.hoermann-gruppe.com/en/overview and www.bourse.lu

Key data regarding HÖRMANN 2016 corporate bond (indicative)

Issue volume: up to EUR 30 million (minimum volume: EUR 25 million)
Conversion deadline: 15 to 17 November 2016, 2:00 p.m.
(subject to extension or early conclusion)
Subscription available through: Frankfurt Stock Exchange, via principal or direct bank
WKN/ISIN: A2AAZG/DE000A2AAZG8
Denomination: EUR 1,000
Interest rate (coupon) p.a.: to be announced after the end of the subscription period;
provisionally scheduled for 17 November 2016
Interest range: 4.25% to 4.75%
Term: 5 years
Interest payments: annually; first payment on 21 November 2017
Repayment price: nominal value (100%)
Company rating: BB (stable), Euler Hermes Rating GmbH (October 2016)
Covenants: change of control, cross default, negative covenant,
restriction on distribution, restriction on disposal
Type of security: bearer bond
Stock exchange segment: Open Market on the Frankfurt Stock Exchange, Entry Standard for corporate bonds
Value date/listing: 21 November 2016