AKKA Technologies has successfully placed a Schuldschein-type bond (private placement subject to German law), which was structured and arranged by BayernLB and HSBC.
Strong demand from German and Asian investors prompted the Group to almost double the initial amount of the placement to ¤140 million. AKKA Technologies has strengthened its position as a pioneer in technology consulting by being the first to issue a Schuldschein, just as it was the first to carry out a ¤100 million private bond placement ("Euro PP") in February 2013. The success of these two issues confirm the quality of AKKA Technologies' signature in the credit markets. The issue was heavily oversubscribed by German and Asian investors, indicating their confidence in the Group's strategy and its new international dimension.
The Schuldschein has 2 tranches maturing in 5 and 7 years, with a mix of fixed and variable interest rates and an average financing cost of around 2%. This Schuldschein, which is non-dilutive for shareholders and will not impact the Group's net debt, will reinforce its financial flexibility and diversify its sources of funding. It will also help extend the average maturity of its debt, taking advantage of very attractive market conditions.
In accordance with its medium-term strategic plan, the funds raised will enable the Group to finance the acceleration of its growth in Germany and abroad. This more rapid development will be a combination of higher organic growth and targeted acquisitions, and will enable the Group to consolidate its positioning in Germany and in the new regions where it is present.
AKKA Technologies contacts
Tel.: +33 (0)4 78 92 60 83
Tel.: +33 (0)4 72 18 04 97
Investor Relations & Corporate Development
Tel.: +33 (0)1 56 69 26 52
Tel.: +33 (0)4 72 18 04 93
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