German Debt Capital Markets team advises Sixt SE on successful issue of 300 million euro bond
Global | Press release - Business | June 2023
The Frankfurt Debt Capital Markets Team of Global law firm Norton Rose Fulbright has advised Sixt SE on the successful issuance of a bond with a total volume of €300 million.
The bond, which has a fixed interest rate of 5.125 per cent and matures on 9 October 2027, was admitted to trading on the regulated market of the Luxembourg Stock Exchange on 9 June 2023. The Joint Lead Managers of the bond issue were BNP Paribas, Commerzbank Aktiengesellschaft (Technical Lead), Deutsche Bank Aktiengesellschaft and Skandinaviska Enskilda Banken AB. The bond, the order book of which was significantly oversubscribed, further secures the long-term corporate financing of the Sixt Group. It mainly serves to early refinance financial liabilities falling due in 2024 and to strengthen the foundation for the continued growth of the Sixt Group.
Sixt SE, which is based in Pullach near Munich, Germany, is a leading international provider of high-quality mobility services. In 2022, it generated revenues of €3.066 billion.
Christoph Enderstein, responsible for Norton Rose Fulbright’s debt capital markets practice in Germany, commented: "My team and I have previously advised Sixt in connection with various capital markets transactions. We are pleased that Sixt now also mandated us in connection with the issuance of its new bond."
The Frankfurt team was led by partner Christoph Enderstein (banking) and also included counsel Dr. Michael Born and associate Quynh-Anh Nguyen-Xuan (both banking).
At Sixt SE, Dr. Franz Weinberger and Dr. Ferdinand Ölschlegel advised in-house in connection with the issue of the bond.
Norton Rose Fulbright's debt capital markets team in Frankfurt advises both investment banks and issuers in connection with national and international capital market transactions in the areas of debt capital markets and structured finance, in particular on bonds, commercial paper, covered bonds, structured bonds, securitized derivatives, hybrid instruments, registered notes, Schuldschein loans and issuance programmes as well as related regulatory issues.
