Stabilus debuts on the promissory note market

The automotive supplier Stabilus is using the first signs of a business recovery for its debut on the promissory note market. The oversubscribed paper is intended to help pay off bank loans.

Stabilus has issued promissory note loans in the amount of 95 million euros and therefore celebrated a successful debut on the promissory note market. The various tranches have maturities of five and seven years and carry variable interest rates. Originally, Stabilus CFO Mark Wilhelms wanted to raise only 50 million euros. However, because the promissory note was oversubscribed several times, according to company statements, the CFO increased the promissory note to almost double the amount. According to Wilhelms, the spreads were at the lower end of the marketing range…

The entire article by Eva Brendel and Michael Hedtstück can be found in Finance Magazine