SNP Schneider places €40 million Schuldschein borrower's note loan

By Devika Patel

Knoxville, Tenn., Feb. 21– SNP Schneider-Neureither & Partner AG said it settled a €40 million Schuldschein private placement, consisting of a borrower's note loan.

The volume is spread across fixed and variable tranches in terms of three to seven years. The current average yield across all tranches amounts to 1.41% per year.

The issue was arranged by IKB Deutsche Industriebank AG.

The company said that due to a high level of investor interest and the favorable financing conditions, the original target volume was increased by €10 million to €40 million.

The company’s bearer bond was also called prior to maturity. The €10 million bond will be fully redeemed at a price of 103 plus interest through the redemption date, March 27.

SNP is a software company based in Heidelberg, Germany.

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