By Lisa Kerner
Charlotte, N.C., Dec. 17 - First Sensor AG issued two Schuldscheine totaling €31 million.
German institutional investors subscribed to the issue as follows:
• €19 million three-year Schuldscheine with a floating interest rate based on six-month Euribor; and
• €12 million five-year fixed-rate Schuldscheine.
The transaction is scheduled to close by year's end.
Proceeds will be used to repay in full the company's €29 million syndicated loan entered into in 2011 and to fund growth, according to a company news release.
The Berlin-based customer-specific sensor solutions provider is required to maintain certain leverage, equity-to-assets and interest coverage ratios.
| Issuer: | First Sensor AG
|
| Issue: | Schuldscheine
|
| Amount: | €31 million
|
| Distribution: | Private placement
|
| Announcement: | Dec. 17
|
| Settlement: | By Dec. 31
|
|
|
| Floating-rate notes
|
| Amount: | €19 million
|
| Maturity: | Three years
|
| Coupon: | Six-month Euribor plus a spread
|
|
|
| Fixed-rate notes
|
| Amount: | €12 million
|
| Maturity: | Five years
|
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