Home / Knowledge / News / Textiles / Lenzing successfully places EUR 120 mn corporate bond
Lenzing successfully places EUR 120 mn corporate bond
27
Sep '10
Lenzing AG, the world market leader in man-made cellulose fibers, successfully placed a seven-year corporate bond with a coupon rate of 3.875 %. The bond sale was oversubscribed fourfold. Approximately 75 % of the total volume went to private Austrian investors due to strong demand from this group.

Peter Untersperger, chairman of the management board, comments: “We have achieved an important target of our bond issue in an optimum manner, namely the diversification of our creditor base. We see the considerable oversubscription and the great demand from institutional and in particular private investors as an indication that Lenzing is well positioned as a global and yet essentially Austrian company”.

Lenzing will use the net proceeds for optimizing the company's current financing portfolio, strengthening its financial power, refinancing existing financial liabilities, as well as for financing new projects, such as developing and extending established business activities.

The company's CFO, Thomas G. Winkler notes: “The new Lenzing corporate bond puts us in a position to optimally adapt our financing structure to the requirements of the next years. The coupon rate of 3.875 % reflects the high credit rating given by the investors and sets a benchmark.”

About 90 % of the total bond volume was allocated to Austrian private and institutional investors, the remainder to non-Austrian investors. Appointed joint lead managers of the bond issue were UniCredit Bank Austria AG and Raiffeisen Zentralbank Österreich AG, senior co-lead managers: Raiffeisenlandesbank Oberösterreich AG, Erste Group and Oberbank AG, and co-lead managers: Investkredit Bank AG, Sparkasse Oberösterreich and BAWAG P.S.K.

The Lenzing Group is an international group of companies with its headquarters in Austria, production sites in all major markets and a global network of sales and marketing offices. Lenzing provides the global textile and nonwovens industry with high-quality cellulose fibers. The company is the leading supplier in many business-to-business markets – from cellulose fibers to special plastic polymer products.

Lenzing AG


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search