IHO Verwaltungs GmbH Issues €320 Million Sustainability-Linked Notes

IHO Verwaltungs GmbH, a subsidiary of IHO Holding, announced the issuance of €320 million in sustainability-linked senior secured PIK toggle notes. The offering is divided into €200 million notes due 2029 with an interest rate of 6.750% / 7.500%, and €120 million notes due 2031 at 7.000% / 7.750%. This private placement targets institutional investors.

The additional notes, part of a series initially launched in October 2024, carry interest rates linked to specific sustainability targets. Non-compliance with these targets results in a 20 basis points rate increase. Proceeds will be used to repay existing debt under a revolving credit facility. The issuance requires customary closing conditions.

The notes will follow Regulation S guidelines, with initial temporary codes transitioning to existing ISINs post-issue. They are not offered to retail investors in the EEA or UK.