EGGER successfully places hybrid bond

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Egger/Fordaq
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Egger Holzwerkstoffe GmbH, the parent company of the international wood-based material manufacturer EGGER, St. Johann in Tirol, has successfully completed the issue of a deeply subordinated hybrid bond with perpetual maturity and an early redemption option for the issuer after five years.

The issue, which has a minimum subscription volume of EUR 100,000 exclusively to institutional investors, was placed, with a total amount of EUR 150 million, mainly to European investors. The coupon was fixed at 4.875 % due to the great interest.

The funds from the issue are intended to serve general corporate financing, including current and future investment projects, as well as the optimization of the financing structure, including the strengthening of the equity base.

"We are pleased about the investors' trust in us as a solid Austrian family-owned company," says Thomas Leissing, spokesman for the EGGER Group Management and responsible for finance and administration. "In addition to general corporate financing, the proceeds will support the current and future strategic investment programme as a basis for long-term profitable growth, as well as optimise our financing structure and strengthen our own funds base.”

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