In response to high investor demand, Claas once again successfully issued a Schuldschein loan. The issue proceeds, totalling Euro 350 million, will be used for general corporate purposes.
Henner Böttcher, Chief Financial Officer of Claas, commented: “We’re delighted with the transaction, especially in the context of the currently very challenging environment. The high volume of Euro 350 million in combination with the high oversubscription, testifies to the trust placed in us by investors in our company and significantly reinforces our liquidity basis further.”
Successful positioning on capital market
The Schuldschein was issued in tranches with terms of 3.25, 5.25 and 7.25 years with both fixed and variable interest rates on offer. Because of the strong demand, even in a challenging capital market environment, the Schuldschein reached a total volume well above the initial target volume of Euro 150 million. After transactions in 2015 and 2020, Claas has once again managed to position itself successfully in the market for debt certificates.
With this Schuldschein, Claas is strengthening its financial profile. The Schuldschein fits well into the existing maturity profile and extends the average term of the financing portfolio. In addition, the company has been able to attract new investors from Europe and Asia, thus also diversifying its sources of finance. Claas was supported in this transaction by the arrangers Commerzbank, Deutsche Bank, HSBC and LBBW.
