Sought-after Underberg bond: Noerr again advises on successful placement

The commercial law firm Noerr has again advised Semper idem Underberg GmbH on the issue of a corporate bond with a total value of 30 million euros and with a coupon of 5.375% p.a. Underberg has once again relied on Noerr for advice: the Frankfurt-based capital markets law specialists Dr Laurenz Wieneke and his team had already advised Underberg in July 2014 on the issue of 30-million-euro bond, as previously on the issue and topping-up of an earlier bond from 50 to 70 million euros.

The private placement of the Underberg bond with institutional investors in Germany, Luxembourg, Austria, Switzerland and in Scandinavia was completed within a few hours and the order book was already closed on the first day due to clear oversubscription. The start of trading on the Open Market of Deutsche Börse AG (Open Market of the Frankfurt Stock Exchange, Quotation Board) is scheduled for 6 July. The net issue proceeds are essentially earmarked for the partial refinancing of a bond which matures in April 2014; part of the proceeds is also to be used for investments in product and brand development. The transaction was overseen by ODDO Seydler Bank AG, Frankfurt am Main, as sole global coordinator and book runner.

Advisors to Semper idem Underberg GmbH: Noerr LLP

Dr Laurenz Wieneke, Dr Ivan Zlatanov (both Capital Markets, Frankfurt)