Karlsberg Brauerei Announces Early Termination of Bond Exchange Offer Due to High Demand

Karlsberg Brauerei GmbH has declared an early end to its voluntary exchange offer and new subscription period linked to its 2024/2029 corporate bond, thanks to robust investor demand. Initially planned to continue until late April, the exchange and subscription phases have now been significantly shortened. The exchange offer, involving the swap of the existing 2020/2025 bonds, will conclude on April 18, 2024, while new bond subscriptions will only be accepted until April 19, 2024.

The interest rate for the new bonds has been fixed at 6% per annum. This adjustment in schedule aligns with the forthcoming listing of the bonds on the Frankfurt Stock Exchange, expected on May 2, 2024. Karlsberg Brauerei also plans to redeem all outstanding 2020/2025 bonds that are not exchanged by June 6, 2024, utilizing its call right shortly after the new bonds are issued.