The provider of mobility services, Sixt AG, and the Group company, Sixt Leasing AG, successfully placed a borrower’s note loan with a volume of EUR 80 million. Given the strong interest by national and international investors the volume originally offered in the amount of EUR 50 million was significantly exceeded. The borrower’s note loan carries a maturity of 5 years and comes in two tranches, one with a variable interest rate (referenced against the 6 month Euribor) and one with a fixed interest rate (referenced against the mid-swap). The spread rate is 195 basis points. The funds raised serve to re-finance the company’s lease assets. The transaction was successfully arranged by the Commerzbank Aktiengesellschaft and the Landesbank Berlin AG.
Dr. Julian zu Putlitz, Chief Financial Officer of Sixt AG: “The borrower’s note loan constitutes a further component in securing the Group’s long-term financing, as we took advantage of the friendly situation on the capital markets. The conditions of the borrower’s note loan are attractive for Sixt and document the financial strength and solidity of our Group’s balance sheet.”