eterna bond - Coupon: 8.00%
Eterna Mode Holding GmbH, traditional and innovative shirting manufacturer with one of the leading brands in Germany shirt goes, a corporate bond with a planned issue volume of EUR 35 million. The offer period starts on Monday, 24 September 2012, subject to early closing of the offer period on 5 October 2012. Expected on 9 October 2012 to be included in the trade for the first time the bond segment for SMEs 'Bondm' the Stuttgart Stock Exchange. Investors a coupon of 8.00% pa for a period of five years is offered. The creditworthiness of eterna Mode GmbH was the Creditreform Rating with grade BB-rated. Interested investors can bond over the Zeichnungsbox the Stuttgart Stock Exchange and their clearing bank draw, stating the DE000A1REXA4 ISIN or WKN A1REXA. Lead manager and bookrunner of the ICF Kursmakler AG. Peter Rentsch, managing partner of eterna Mode Holding GmbH, one of the objectives of the bond issue: to be 'Our goal is, in the long term the most coveted shirt brand in Europe. Approx. 70% of the net proceeds will be devoted to the refinancing of loans. The other max. 30% will be used to implement our growth strategy. ' Essential components of the company's strategy are to increase the number of eterna own stores and to strengthen its retail business. Also plans eterna to expand its high-margin online business and promote the internationalization. Already, the company has 43 own eterna stores and 9 franchise stores, including 6 in Russia. 'To achieve our goals, we rely on our competitive strengths. This includes a high level of innovation, the processing of the finest Swiss cottons, a purely European production and the highest delivery and product quality. All this comes in our motto, 'eterna - perfection feel'. Expressed 'explains Peter Rentsch In the past three years obtained the eterna Mode Holding GmbH as compared to the market on average sales growth of 3.5% pa 96.5 million EUR in 2011. Simultaneously generated the Passau fashion company generated EBITDA of approximately EUR 14.0 million, representing an EBITDA margin of 14.5%. Despite the cool weather in the spring of 2012 and thus lower sales for Long sleeve eterna scored in the 1st Half of 2012 sales of EUR 46.2 million, EBITDA of EUR 6.5 million and earnings before interest and taxes (EBIT) of EUR 2.1 million. In the past five years, recorded eterna by high operating cash flows by an average of 5.8 million EUR per year, allowing the company since 2007, was able to repay loans of more than EUR 40 million. 'The planned proceeds of the bond we want to reduce existing bank significantly. This opens up new business opportunities for us, which we will also finance with bond proceeds. We are confident that through our clear forward strategy, our established brand, the high profitability and, not least, an attractive bond coupon of 8.00% can win many investors, 'says Peter Rentsch. Key data of the eterna bond: volume: EUR 35 million . interest rate: 8.00% pa Rating: BB-(Credit Reform) Duration: 5 years Minimum deposit: EUR 1.000, - Redemption: 100% of the principal amount of the start of the Offer Period: 2 4 September 2012 Start of listing: 9th October 2012 Market Segment: 'Bondm' Market
