on The Platform Group AG (isin : DE000A2QEFA1)
The Platform Group AG Plans Corporate Bond Worth EUR 25 Million
The Platform Group AG (TPG), a leading software company for platform solutions, announced plans to issue a corporate bond with a target volume of EUR 25 million. The bond is structured under Norwegian law and has a four-year tenor. The interest rate is set between 8% and 9% annually, payable semi-annually in arrears. The subscription period runs from 26 June to 03 July 2024 via Deutsche Börse.
The proceeds will be used for acquisitions, debt repayment, investment in TPG's software platform, and other corporate purposes. The securities prospectus has been approved by the CSSF in Luxembourg. TPG operates 23 platforms across various sectors, notably achieving EUR 440.8 million in sales last year.
The company aims to list the bond on the Frankfurt Stock Exchange and the Nordic ABM of the Oslo Stock Exchange. The issue targets both institutional and private investors, with Pareto Securities AS leading the private placement. TPG plans to increase its gross merchandise volume and sales significantly by 2025.
R. E.
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