per possessori di queste obbligazioniHeckler & Koch GmbH bonds plunged by the most on record after the German arms manufacturer suffered a drop in sales because of delays in obtaining export licences.
The company’s 9.5 percent notes due May 2018 tumbled 21 cents on the euro in the past week to 75.4 cents, the lowest in more than two years, according to data compiled by Bloomberg. Revenue at Oberndorf-based Heckler declined to 64.4 million euros ($84.5 million) at the end of June, down 36 percent from the same period in 2013, according to first-half results of the closely-held company seen by Bloomberg News.
Heckler said in the results report that while sales were hurt mainly by export licence delays, it had also postponed the introduction of a new product in the U.S. Germany’s coalition government, which came to power last year, has yet to finalize the licence policy for exporting weapons to certain countries, it said.
“If this situation continues, performance in 2014 is likely to be even more negatively affected, with delivery of certain contracted orders being delayed and associated program awards also being influenced,” Heckler said in the results statement.
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