23.10.2012 | Hamburg
The Otto Group, a trading and services group based in Hamburg, is utilising the current attractive capital-market environment to issue an additional bond today with a nominal volume of 300 million euros. The bond has a maturity of seven years and a coupon of 3.875 percent. This bond issue represents a further milestone in the Otto Group’s long-term finance strategy.
“Thanks to the Otto Group’s solid reputation among investors, we were able to issue the bond on favourable terms and in doing so, to lay a key foundation stone for the Group’s future growth”, says Jürgen Schulte-Laggenbeck, Member of the Executive Board, Finance and IT Otto Group, Chief Financial Officer (CFO), assessing this important financing move. Back in 2009, the Otto Group was already able to benefit from its high level of public recognition and positive reputation in German-speaking countries with a successful benchmark bond issue worth 500 million euros. In March 2012, the Otto Group issued a 150-million euro corporate bond in Austria; the funds accessed through this bond are being used both for general company financing as well as for refinancing the 500-million euro bond which matures in 2013.