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Published on 4/3/2024 in the Prospect News High Yield Daily.

Karlsberg to offer five-year bond with target volume of €50 million

By Mary-Katherine Stinson

Lexington, Ky., April 3 – Karlsberg Brauerei GmbH is bringing a new corporate bond to the market with a target volume of €50 million and a five-year tenor, according to a company announcement.

The bond 2024/2029 (ISIN: NO0013168005) is being talked with an interest rate between 6% and 7%.

The actual interest rate will be determined at the end of the offer period based on subscription orders. The subscription period begins April 11 and is expected to end at 6 a.m. ET on April 25.

The bonds will be sold as a public offering in Germany and Luxembourg and as a private placement also in Germany, selected European countries and certain other countries.

The prospectus was approved by the Luxembourg Financial Market Authority Commission de Surveillance du Secteur Financier, on April 3.

Pareto Securities AS, Frankfurt Branch, is acting as the lead manager for the private placement.

The company will use the proceeds to early redeem its existing corporate bond 2020/2025 (ISIN: DE000A254UR5), which has a total nominal amount of €50 million.

Existing bondholders are being given the opportunity exchange those notes for the new notes.

The new bonds are expected to be listed on the Frankfurt Stock Exchange and within six months of issue on the Nordic ABM of the Oslo Stock Exchange.

The brewery is based in Homburg, Germany.


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