Noerr advises SAF-HOLLAND on the successful placing of convertible bonds

The law firm Noerr advised the SDax listed SAF-HOLLAND S.A. on the successful placing of unsecured convertible bonds with an aggregate nominal amount of approximately EUR 100 million, maturing in six years. The Frankfurt capital market lawyers and Noerr partners Dr. Holger Alfes and Dr. Laurenz Wieneke led in the transaction.

In a matter of a few hours after the beginning of the private placing in the accelerated bookbuilding procedure, the subordinate and unsecured convertible bonds were placed with institutional investors. The bonds are intended to be included in trading on the non-regulated open market segment of the Frankfurt Stock Exchange. The proceeds will be used to refinance existing indebtedness and for general corporate purposes.

SAF-HOLLAND S.A. regularly relies on Noerr’s legal advice in financing and capital markets transactions including in the refinancing and bond issue in 2012 and the capital increases in 2011.

Citigroup Global Markets Limited and Commerzbank Aktiengesellschaft are acting as joint bookrunners for the placement of the convertible bonds. IKB Deutsche Industriebank acts as Co-Lead Manager and advisor.

Advisor SAF-HOLLAND S.A.: Noerr LLP

Dr. Holger Alfes, Dr. Laurenz Wieneke (both capital markets law, Frankfurt), Dr. Martin Kleinschmitt (financing, Berlin)

Associate: Dr. Ivan Zlatanov (capital markets law, Frankfurt)

Bonn & Schmitt (Luxembourg law): Marcus Peter, Philipp Mössner, Fabien Cathagne

Varnum LLP (Law of the US State Michigan): Joan Schleef