Otto Group begins roadshow for seven-year sustainable senior bond

By Sarah Lizee

Olympia, Wash., April 2 – Otto GmbH & Co. KG (Otto Group) plans to price a euro-denominated seven-year sustainable senior bond, according to a market source.

The company mandated BNP Paribas, Commerzbank, Deutsche Bank and ING as active joint bookrunners and ING as sustainability structuring adviser for the inaugural sub-benchmark bond. BayernLB, DZ Bank AG and MM Warburg & Co. will be co-managers.

The lead arrangers began a series of pan-European debt investor meetings on Tuesday in order to introduce the company’s newly established sustainable finance framework and provide a credit update. The new issue will follow, subject to market conditions.

FCA/ICMA stabilization applies.

Otto Group is a multichannel retail and retail-related services group based in Hamburg, Germany.

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