Sixt AG, Germany’s biggest car rental company and one of the leading full-service leasing providers, placed a bond with a volume of EUR 250 million today. The issue has a term of six years until October 25, 2016 and carries a coupon of 4.125% p.a.
Institutional investors as well as banks with a retail focus from Germany and abroad acquired the bond that was significantly oversubscribed. Due to the strong demand the issue volume was increased to EUR 250 million and the price fixed at the lower end of the marketing spread. Joint bookrunners for the issue were BayernLB, UniCredit Bank AG and WestLB AG.
Dr. Julian zu Putlitz, Chief Financial Officer of Sixt AG: “The bond’s issue allows us to use of the favorable conditions currently prevailing on the capital markets and it secures Sixt Group’s refinancing over the mid-term. With its six year term the bond additionally improves the maturity profile of our financial liabilities. The highly positive investor response shows once more that the capital markets appreciate the solid balance sheet of Sixt.”