13.06.2016 | Hamburg
The internationally active retail and services company Otto Group has successfully placed a 250 million euro bond issue. The note carries a seven-year term and a 2.5 percent coupon.
The successful turnaround of the Otto Group in its major business areas is bearing fruit on the capital market: “We are delighted at the high level of interest and at the excellent reputation that the Otto Group enjoys with the investment community”, says Petra Scharner-Wolff, Member of the Otto Group Executive Board, Finance. “Thanks to the high level of confidence in our group of companies and the current very attractive market for bond issuers, we have been able to secure finance on favourable terms.” The funds are to serve the Group’s general business financial requirements.
The bond was issued within the framework of the European Medium Term Note Programme (EMTN), which the Otto Group has used since 2013 to secure part of its corporate finance via bond placements. The Group has been active on the bond market since 2009.