Noerr advises The Social Chain AG on successful placement of a convertible bond in the amount of 25 million euros

Noerr has advised The Social Chain AG, an international platform for social media & e-commerce, on the successful placement of a EUR 25 million convertible bond. A Noerr team led by Frankfurt partners Dr Julian Schulze De la Cruz and Dr Laurenz Wieneke acted for the company.

The placement was carried out within the framework of a public subscription offer and a subsequent private placement with institutional investors. The newly issued convertible bonds with a term until 2024 bear interest at a coupon of 5.75% p.a. and are to be included in trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange (Quotation Board segment).

The net proceeds from the issuance of the convertible bond will be used primarily to finance the further growth of the company's existing business activities, for selected acquisitions in the area of social media & e-commerce and for general corporate purposes. Quirin Privatbank AG acted as sole global coordinator and sole bookrunner.

Noerr regularly advises banks and issuers on equity measures and convertible bond issues. Most recently, the team advised, inter alia, TAG Im-mobilien AG on the issue of a convertible bond with a volume of EUR 470 million and the repurchase of outstanding bonds with a total nominal value of EUR 131 million.

Advisor to The Social Chain AG: Noerr Partnerschaftsgesellschaft mbB

Dr Julian Schulze De la Cruz, Dr Laurenz Wieneke, Dr. Dominik Kloka, Thomas Thies, Jens Göb (Frankfurt, all Capital Markets), Dr. Nikolai Warneke (Frankfurt, Banking and Finance)