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Homann Holzwerkstoffe fully places new bond

12.03.2021 − 

Homann Holzwerkstoffe successfully placed its new 2021/2026 bond more quickly and with a higher volume than originally planned. The subscription period for the public offer, which was supposed to run from 1 to 4 March, was shortened to 2 March after just one day. Following the completion of the exchange offer for the 2017/2022 bond on 26 February, which was called and redeemed early, the interest rate for the new bond was fixed at 4,50%, which is towards the lower end of the envisaged range of 4.50-5.00%. The company had said that it had shortened the subscription period and set a lower interest rate because of strong demand from institutional investors, asset managers and private investors, which had been evident via the exchange offer, talks with investors and the subsequent private placement. The issue volume, which was originally supposed to stand at €60m, was thus raised to €65m. Some 47% of the bond went to existing bondholders who had from 10 to 25 February to accept the exchange offer under a multiple purchase option. The new bond was then offered via the public offers in Luxembourg and Germany and via a private placement in Germany, Luxembourg and a few other countries.

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