Scout24 issues promissory note loan for €215m with the help of Noerr

Noerr has advised Scout24 AG on its debut on the Schuldschein market. ING Bank and Landesbank Baden-Württemberg acted as arrangers in this transaction.

Scout24 placed its promissory note loan (Schuldscheindarlehen) with terms of between 3 and 6 years exclusively with professional investors. The company has used the proceeds from this issue in particular to refinance part of its existing loan liabilities. For this transaction, Scout24 took advantage of their positive results in the 2017 financial year and the dynamic Schuldschein market, thereby further reducing its financing burden on a long-term basis. Scout24 is following a general trend among corporate borrowers of extending their financing mix, i.e. to move increasingly towards the debt capital market.  

Scout24 is the leading operator of digital marketplaces in Germany and Europe, running internet online platforms such as ImmobilienScout24 and AutoScout24. A Noerr team led by Andreas Naujoks and Torsten Wehrhahn acted for the SDAX company. Both advised the client on taking out a syndicated loan already last year.

Advisors to Scout 24 AG:

Inhouse Law (Berlin): Peter Busse (Head of Company and Capital Markets Law), Johannes Schneider

Noerr (Frankfurt): Andreas Naujoks, Dr Torsten Wehrhahn (both team lead), Doreen Pape (all Banking and Finance)