Sixt SE (SIX2.F), a German car rental company, said that it has successfully placed a 500 million euros corporate bond with international investors.
The benchmark issue saw exceptionally strong demand from institutional investors in Germany and abroad, with an orderbook that was more than four times oversubscribed at its peak. The bond has a 5-year term and a coupon of 3.25%, representing an improvement of 0.50% compared to the previous bond issued a year ago, which had a coupon of 3.75%.
The company noted that it will use proceeds of the bond to finance further growth, in particular fleet expansion.
BNP PARIBAS, Commerzbank, Deutsche Bank, DZ BANK and UniCredit acted as joint lead managers.
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