Mutares Successfully Places New Secured Bond Worth EUR 135 Million

Mutares SE & Co. KGaA has announced the successful issuance of a new senior secured floating rate bond with an initial volume of EUR 135 million. The bond, which has a maturity of five years, bears interest at the rate of EURIBOR (three months) plus a 6.25% margin per annum. It is secured by pledging shares in selected investment vehicles and assigning intra-group loans.

The bond was placed with institutional investors and has the potential to be increased to a total volume of up to EUR 300 million. The company also offered a buyback of its existing 2023/2027 bond up to EUR 25 million at a price of 106.50%. The new bonds will trade under ISIN NO0013325407 on the Frankfurt and Oslo Stock Exchanges.

Net proceeds will primarily fund general business operations and further portfolio growth, including additional corporate acquisitions and bond repurchases. Pareto Securities and Arctic Securities advised on the transaction.