Noerr advises quirin bank on successful placing of German Pellets 100 million corporate bond
The law firm Noerr advised quirin bank on the complete placing of a German Pellets GmbH 100 million Euro corporate bond. The quirin bank acted as Lead Manager and sole bookrunner and Steubing AG as Co-Lead Manager.
In an international private placing, the new 2014/19 bond was successfully placed with institutional investors. The bond has a coupon of 7.25% p.a. With the 74 million Euro proceeds of the issue, one of the world's largest producers and traders of wood pellets intends to advance the internationalisation of the company and expand its value chain. The bond is listed on the Prime Standard of the Frankfurt stock exchange.
In addition, investors exchanged 26 million Euro of the existing 2011/2016 bond for the new 2014/19 bond. That corresponds to an exchange rate of approx. 32%. quirin bank also acted as dealer manager and as the central organisation for processing the bond exchange. A Noerr team led by the Frankfurt capital markets lawyer Laurenz Wieneke acted for quirin bank. In the present year, the team already, inter alia, advised Unterberg on the issue of a corporate bond.
Advisor quirin bank AG: Noerr LLP
Dr. Laurenz Wieneke (leading), Dr. Maximilian Uibeleisen (Regulatory)
Associate: Dominik Kloka (capital markets, all Frankfurt)