Hörmann Industries GmbH: ​​​​​​​Subscription period for HÖRMANN bond 2023/2028 starts today

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Subscription period for HÖRMANN bond 2023/2028 starts today

• Issue volume of EUR 50 million
• Interest rate range from 6.5% to 7.5% p.a.
• Subscription period on the Frankfurt Stock Exchange (DirectPlace) expected to end on 30 June 2023 (early closing possible)

Kirchseeon, 21 June 2023 – Today, Wednesday, the public offer for the new corporate bond of technology specialist HÖRMANN Industries GmbH starts via the subscription function of the Frankfurt Stock Exchange (DirectPlace). The 5-year bond (ISIN: NO0012938325, WKN: A351U9) with a nominal amount of EUR 1,000.00 can be subscribed via banks and online brokers from today until 30 June 2023, 12:00 CET (subject to early closing).

The issue comprises a public offer for investors in Germany and Luxembourg as well as a private placement with institutional investors in certain other countries. In addition, there has been an exchange offer for holders of the existing bond 2019/2024 since 16 June 2023. Pareto Securities AS, Frankfurt Branch, is acting as Manager and Bookrunner for the transaction.

The new HÖRMANN bond 2023/2028 has an issue volume of EUR 50 million, a term of five years and a coupon of 6.5% to 7.5% p.a. The final coupon will be determined during the offering period and announced at the end of the offering period with a pricing decision expected on 30 June 2023. The issue volume is to be used to refinance the existing bond 2019/2024 (ISIN: NO0010851728; WKN: A2TSCH).

The new bond is expected to be listed on the Open Market of the Frankfurt Stock Exchange on 11 July 2023. It is also planned to have the new bond listed in the Nordic ABM segment of the Oslo Stock Exchange within six months from the issue date.

With its four business divisions, Automotive, Communication, Intralogistics and Engineering, HÖRMANN Industries GmbH focuses on sustainable growth segments with high earnings potential. At the same time, the four divisions form a diversified and resilient foundation that provides security for the Group and all stakeholders even in a challenging market environment. In the financial year 2022, the HÖRMANN Group generated sales of EUR 685.7 million, earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 35.3 million as well as earnings before interest and taxes (EBIT) of EUR 23.7 million. The Group’s equity base amounted to EUR 136.4 million as of 31 December 2022, which corresponds to a comfortable equity ratio of 37.4%.

Further details on the HÖRMANN bond 2023/2028 including step-by-step instructions on how to subscribe and the legally relevant securities prospectus can be found at https://www.hoermann-gruppe.com/en/investor-relations/bond-2023-2028.

 

Key data of the HÖRMANN corporate bond 2023/2028

Issuer HÖRMANN Industries GmbH, Kirchseeon Issue volume (target volume) EUR 50,000,000 ISIN / WKN NO0012938325 / A351U9 Interest rate range 6.5% to 7.5% p.a. Issue price 100% Nominal amount / denomination EUR 1,000 Interest payment Annually, first on 11 July 2024 Term Five years, 11 July 2023 to 11 July 2028 Redemption Due on 11 July 2028 at the nominal amount (100% of the nominal amount) Early redemption

  Optional redemption right of the issuer, permissible after two and a half years from the issue date and in other cases; see terms and conditions of the bond for further details. Status Not subordinated, unsecured Covenants E.g. compliance with leverage ratios; see terms and conditions of the bond for further details. Trustee Nordic Trustee AS Stock exchange segment
  Open Market of the Frankfurt Stock Exchange; Nordic ABM of the Oslo Stock Exchange within six months from the issue date. Offer structure







  Public exchange offer in the Federal Republic of Germany and the Grand Duchy of Luxembourg to holders of the existing bond 2019/2024 including option to purchase.

Public offer in the Federal Republic of Germany and the Grand Duchy of Luxembourg via the DirectPlace subscription function of Deutsche Börse AG.

Private placement in the Federal Republic of Germany and the Grand Duchy of Luxembourg and in certain other countries. Issue/value date 11 July 2023 Manager Pareto Securities AS, Frankfurt Branch

 

About the HÖRMANN Group

The HÖRMANN Group has grown steadily since its formation in 1955. HÖRMANN Holding GmbH & Co. KG is the parent company of more than 30 subsidiaries operating in the Automotive, Communication, Intralogistics and Engineering segments with a high degree of entrepreneurial initiative and independence. The HÖRMANN Group aims to offer its customers specific solutions and services that provide clear benefits and economic advantages. To achieve this, the HÖRMANN Group harnesses all of the broadly diversified and connected knowledge of its workforce of around 2,950 highly qualified employees across a wide range of technology areas.

www.hoermann-gruppe.com

 

Contact:

HÖRMANN Industries GmbH
Hauptstr. 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com

Financial and business press:

IR.on AG
Frederic Hilke, Jonas Schneider
T +49 221 9140 97 18
hoermann@ir-on.com

 

DISCLAIMER

This announcement does not constitute an offer to purchase securities of Hörmann Industries GmbH and is not a substitute for a securities prospectus. An investment decision regarding the bonds of Hörmann Industries GmbH must be made exclusively on the basis of the prospectus approved by the Luxembourg securities supervisory authority(Commission de Surveillance du Secteur Financier – CSSF), notified to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) and published on the company's website at https://www.hoermann-gruppe.com/en/investor-relations. This announcement and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan.