Noerr advises Wirecard on successful placement of a 500 million Euro bond

Noerr has advised Wirecard AG on the successful issue of a €500m debut bond. The bond has a coupon rate of 0.50% and a term of five years. It was offered exclusively to institutional investors.

The bond issue proceeds will primarily be used to repay outstanding credit facilities. During the issue, Wirecard achieved an investment grade rating (Baa3, stable outlook) from the rating agency Moody’s.

Crédit Agricole, Deutsche Bank and ING acted as joint global coordinators for the issue, with Citigroup, Credit Suisse, ABN AMRO and Lloyds Bank acting as further joint bookrunners. Wirecard has applied for the bond to be traded on the Euro MTF of the Luxembourg Stock Exchange.

A Noerr team headed by the Frankfurt capital markets experts Julian Schulze De la Cruz and Holger Alfes acted for Wirecard. Other clients the team has already advised this year include Fresenius Medical Care for the successful placement of a $500m bond.

Advisors to Wirecard AG: Noerr LLP

Dr Julian Schulze De la Cruz, Dr Holger Alfes (joint team lead), Dr Laurenz Wieneke, Dr Dominik Kloka, Dr Philip Schmoll, Dr Dirk Buken (all Capital Markets, Frankfurt), Dr Alexander Schilling (Banking and Finance, Frankfurt), Dr Martin Haisch, Dr Matthias Geurts (both Tax, Frankfurt)

Advisors United Arab Emirates: Al Tamimi & Company (Mark Brown, Afnan Khalil, Ashish Banga, Austin Menezes)

Advisors Ireland: Mason Hayes & Curran (Daragh O'Shea, Samuel Monteith, Marc Wilkinson)   

In-house counsel: Dr Christoph Küster