Noerr once again oversees successful placement of Underberg bond
The law firm Noerr has once again advised Semper idem Underberg GmbH on the issue of a corporate bond. As part of a private placement, the company successfully placed the new bond which has a volume of € 30 million with institutional investors. The bond with a term running to 7 July 2021 carries a coupon of 6.125% p.a. with interest on a six-month basis.
The placement in Germany, Luxembourg, Austria and Switzerland was concluded within a few hours. Trading on Deutsche Börse AG’s Open Market (OTC trading of the Frankfurt stock exchange) is set to start on 7 July 2014.
The net issuing proceeds are largely earmarked for the partial early refinancing of the bond issued in April 2011. Some of the proceeds are also intended to be used for investment in brand growth.
Underberg was advised by a Noerr team led by the Frankfurt capital markets lawyer, Dr Laurenz Wieneke, who previously oversaw both the issue of the old bond and its increase from € 50 million to € 70 million last year.
Close Brothers Seydler Bank AG, Frankfurt am Main, assisted in the transaction as the sole global coordinator and bookrunner. Conpair AG, Essen, the company’s financial advisor, also assisted in the transaction.
Advisor to Semper idem Underberg GmbH: Noerr LLP
Dr. Laurenz Wieneke (lead), Associates: Dominik Kloka, Christian Ruf, Dr Ivan Zlatanov (all Capital Markets, Frankfurt)