Nuove_emissioni, collocamenti Nuove Emissioni
- Creatore Discussione Giontra
- Data di Inizio
METHOS
Forumer storico
grazie mille, comunque alla fine ho preferito questa
XS0212843352, oggi ho fatto il pieno
0.9 x CMS10y a 94 mi protegge dal rialzo tassi
Anch'io ne sto comprando un pò mi sembra ottima sia l'inidicizzazione che il prezzo
qquebec sappiamo qualcosa di più sull'emittente?
Dunque, la società emittente fa riferimento a tal Befesa, trattasi di azienda spagnola Iron and steel waste-recycling company, Befesa Zinc issued HY bonds, through Zinc Capital SA.
Rating:
LONDON (Standard & Poor's) May 2, 2011--Standard & Poor's Ratings Services
said today that it has assigned its 'B+' long-term corporate credit rating to
European steel dust recycler Befesa Zinc S.A.U. The outlook is stable.
At the same time, we assigned a 'B+' issue rating to the €300 million senior
secured notes issued by Zinc Capital S.A., a Luxembourg-registered orphan
special purpose vehicle (SPV), and the proceeds loan made to Befesa Zinc. The
recovery rating on the loan is '3', indicating our expectation of meaningful
(50%-70%) recovery in the event of a payment default.
The rating on Befesa Zinc reflects our assessment of the company's weak
business risk profile and its aggressive financial risk profile.
The rating is constrained by our view of Befesa Zinc's aggressive capital
structure (pro forma for the €300 million notes); planned increases in capital
expenditures (capex); and ambitious strategy to expand into Turkey, which, in
our view, carries inherent execution risks.
The rating is further constrained by what we believe to be Befesa Zinc's
small-scale operations in a niche, fragmented, and competitive market of crude
steel and stainless steel dust recycling, as well as by its limited diversity
of operations, including the concentration on a single commodity and only four
operating plants in the key profit-generating division of crude steel dust
recycling. In addition, we also note the risk of future dividends to Befesa
Zinc's direct parent, MRH Residuos Metalicos S.L.U. (MRH), an indirect
subsidiary of Abengoa S.A. (B+/Stable/--), although we recognize that such
payouts have not been made on a continuous basis in the past.
In our view, liquidity risks could notably arise in the future in the event
that cash collateral or margin calls on Befesa Zinc's zinc-hedging
arrangements were to be requested by banks--for example, due to tighter
regulation of the over-the-counter commodity derivatives market.
These risks are partly mitigated, in our opinion, by Befesa Zinc's leading
market position in steel dust recycling; positive free operating cash flow
(FOCF) generation; healthy EBITDA margins of above 35% on average in the past
four years; and multiyear contracts with customers, which provide good revenue
visibility. Hedging 60%-75% of its zinc output up to three years ahead
significantly reduces Befesa Zinc's exposure to the commodity price cycle, in
our opinion. In addition, we take a positive view of Befesa Zinc's activities
being supported by environmental legislation in Europe, which has resulted in
steel manufacturers having an economic incentive to recycle steel dust instead
of putting it into hazardous waste-approved landfill sites.
In the next two to three years, we anticipate that Befesa Zinc's strategy will
be growth oriented. We understand from management that capex associated with
this growth will likely amount to about €120 million, and that the company
intends to finance the capex from operating cash flow and existing cash
balances in 2011. However, as spending increases in 2012, we anticipate
negative FOCF and slightly higher leverage at Befesa Zinc--both of which, in
moderation, we believe can be accommodated in the current rating. Positively,
Befesa Zinc's Standard & Poor's-adjusted EBITDA increased by about 13% to €73
million in 2010 on a healthy margin of 35%, which we note is stable compared
with 33% in 2009 and 39% in 2008.
Based on adjusted debt, pro forma for the €300 million bond, we estimate funds
from operations (FFO) to adjusted debt and adjusted debt to EBITDA of 22% and
3.6x at year-end 2010, respectively, which we consider commensurate with the
'B+' rating.
The stable outlook reflects our view that Befesa Zinc will continue to
generate healthy operating cash flows in the near term, that it will maintain
a minimum ratio of FFO to adjusted debt of about 12% and adjusted debt to
EBITDA below 4.5x over the cycle, and that its liquidity will remain adequate
for the rating.
We could lower the rating if the company were to adopt a more aggressive
financial policy, including higher capex or dividends, or engage in sizable
acquisitions. We could also lower the rating if capex planned for the next two
to three years were not adequately supported by operating cash flows, leading
to weaker liquidity and leverage that is higher than we currently anticipate.
We do not foresee upside rating potential for Befesa Zinc at this stage, and
consider the rating on the company to be constrained by that of its ultimate
parent, Abengoa. Importantly, the rating on Befesa Zinc would be directly
affected if we were to downgrade Abengoa.
Non mi sembra affatto male, anche a livello di flottante, quando va a mercato?
Befesa :: For a sustainable world recycle industrial waste, generate and manage water
L'unica cosa che mi lascia un pò perplesso è che sul sito l'ultimo bilancio è quello del 2009
Befesa :: Shareholders & Investors :: Annual Accounts :: 2009
Rating:
LONDON (Standard & Poor's) May 2, 2011--Standard & Poor's Ratings Services
said today that it has assigned its 'B+' long-term corporate credit rating to
European steel dust recycler Befesa Zinc S.A.U. The outlook is stable.
At the same time, we assigned a 'B+' issue rating to the €300 million senior
secured notes issued by Zinc Capital S.A., a Luxembourg-registered orphan
special purpose vehicle (SPV), and the proceeds loan made to Befesa Zinc. The
recovery rating on the loan is '3', indicating our expectation of meaningful
(50%-70%) recovery in the event of a payment default.
The rating on Befesa Zinc reflects our assessment of the company's weak
business risk profile and its aggressive financial risk profile.
The rating is constrained by our view of Befesa Zinc's aggressive capital
structure (pro forma for the €300 million notes); planned increases in capital
expenditures (capex); and ambitious strategy to expand into Turkey, which, in
our view, carries inherent execution risks.
The rating is further constrained by what we believe to be Befesa Zinc's
small-scale operations in a niche, fragmented, and competitive market of crude
steel and stainless steel dust recycling, as well as by its limited diversity
of operations, including the concentration on a single commodity and only four
operating plants in the key profit-generating division of crude steel dust
recycling. In addition, we also note the risk of future dividends to Befesa
Zinc's direct parent, MRH Residuos Metalicos S.L.U. (MRH), an indirect
subsidiary of Abengoa S.A. (B+/Stable/--), although we recognize that such
payouts have not been made on a continuous basis in the past.
In our view, liquidity risks could notably arise in the future in the event
that cash collateral or margin calls on Befesa Zinc's zinc-hedging
arrangements were to be requested by banks--for example, due to tighter
regulation of the over-the-counter commodity derivatives market.
These risks are partly mitigated, in our opinion, by Befesa Zinc's leading
market position in steel dust recycling; positive free operating cash flow
(FOCF) generation; healthy EBITDA margins of above 35% on average in the past
four years; and multiyear contracts with customers, which provide good revenue
visibility. Hedging 60%-75% of its zinc output up to three years ahead
significantly reduces Befesa Zinc's exposure to the commodity price cycle, in
our opinion. In addition, we take a positive view of Befesa Zinc's activities
being supported by environmental legislation in Europe, which has resulted in
steel manufacturers having an economic incentive to recycle steel dust instead
of putting it into hazardous waste-approved landfill sites.
In the next two to three years, we anticipate that Befesa Zinc's strategy will
be growth oriented. We understand from management that capex associated with
this growth will likely amount to about €120 million, and that the company
intends to finance the capex from operating cash flow and existing cash
balances in 2011. However, as spending increases in 2012, we anticipate
negative FOCF and slightly higher leverage at Befesa Zinc--both of which, in
moderation, we believe can be accommodated in the current rating. Positively,
Befesa Zinc's Standard & Poor's-adjusted EBITDA increased by about 13% to €73
million in 2010 on a healthy margin of 35%, which we note is stable compared
with 33% in 2009 and 39% in 2008.
Based on adjusted debt, pro forma for the €300 million bond, we estimate funds
from operations (FFO) to adjusted debt and adjusted debt to EBITDA of 22% and
3.6x at year-end 2010, respectively, which we consider commensurate with the
'B+' rating.
The stable outlook reflects our view that Befesa Zinc will continue to
generate healthy operating cash flows in the near term, that it will maintain
a minimum ratio of FFO to adjusted debt of about 12% and adjusted debt to
EBITDA below 4.5x over the cycle, and that its liquidity will remain adequate
for the rating.
We could lower the rating if the company were to adopt a more aggressive
financial policy, including higher capex or dividends, or engage in sizable
acquisitions. We could also lower the rating if capex planned for the next two
to three years were not adequately supported by operating cash flows, leading
to weaker liquidity and leverage that is higher than we currently anticipate.
We do not foresee upside rating potential for Befesa Zinc at this stage, and
consider the rating on the company to be constrained by that of its ultimate
parent, Abengoa. Importantly, the rating on Befesa Zinc would be directly
affected if we were to downgrade Abengoa.
Non mi sembra affatto male, anche a livello di flottante, quando va a mercato?
Befesa :: For a sustainable world recycle industrial waste, generate and manage water
L'unica cosa che mi lascia un pò perplesso è che sul sito l'ultimo bilancio è quello del 2009
Befesa :: Shareholders & Investors :: Annual Accounts :: 2009
iguanito
Forumer storico
Dovrebbe essere una azienda spagnola che si occupa di smaltire scarti e rifiuti industriali.
New bond issue: Senegal sells USD 500m in 2021 bonds with 8.750% coupon
Senegal on May 6, 2011 placed USD 500m in bonds with a 8.750% coupon, maturing in 2021. The bond was priced at 97.574% to yield 9.125%. Standard Chartered, Standard Bank arranged the deal.
Issuer, issue number: Senegal, 2021
Type of debt instrument: Eurobonds
Issue status: outstanding
Type of placement: public
Par, currency of issue: USD, 200000
Amount: 500 000 000
ISIN: XS0625251854
End of placement: May 06 2011
Issue price: 97.574
Yield at Pricing: 9.125%
Coupon: 8.750%
Coupon frequency: 2 time(s) per year
Settlement Date: May 13 2011
Maturity date: May 13 2021
Issue Managers: Standard Chartered, Standard Bank
Issuer profile:
Senegal is a country in West Africa.
Area – 196 723 sq.km (87th).
Population – 12,5 mln. (72th)
The capital is Dakar.
Official language – French.
Local currency – CFA Franc (XOF).
Government – Semi-presidential republic.
Outstanding issues:
2 issue(s) outstanding worth USD 700 000 000
Issuer's rating:
Moody's Investors Service B1/Stable Int. Scale (foreign curr) 09.03.2011
Standard & Poor's B+/Negative Int. Scale (foreign curr.) 27.05.2010
Senegal on May 6, 2011 placed USD 500m in bonds with a 8.750% coupon, maturing in 2021. The bond was priced at 97.574% to yield 9.125%. Standard Chartered, Standard Bank arranged the deal.
Issuer, issue number: Senegal, 2021
Type of debt instrument: Eurobonds
Issue status: outstanding
Type of placement: public
Par, currency of issue: USD, 200000
Amount: 500 000 000
ISIN: XS0625251854
End of placement: May 06 2011
Issue price: 97.574
Yield at Pricing: 9.125%
Coupon: 8.750%
Coupon frequency: 2 time(s) per year
Settlement Date: May 13 2011
Maturity date: May 13 2021
Issue Managers: Standard Chartered, Standard Bank
Issuer profile:
Senegal is a country in West Africa.
Area – 196 723 sq.km (87th).
Population – 12,5 mln. (72th)
The capital is Dakar.
Official language – French.
Local currency – CFA Franc (XOF).
Government – Semi-presidential republic.
Outstanding issues:
2 issue(s) outstanding worth USD 700 000 000
Issuer's rating:
Moody's Investors Service B1/Stable Int. Scale (foreign curr) 09.03.2011
Standard & Poor's B+/Negative Int. Scale (foreign curr.) 27.05.2010
SeniVita first means emits social status A-rated bond
Issue volume: 15 million €, Coupon: 6.50%
The SeniVita social profit company issued a corporate bond with a volume of 15 million €. The coupon is 6.50%. The bond can of 9 to 13 May be drawn. For 17 May is the first listing in the Entry Standard segment designed for corporate bonds. SeniVita was the first issuer of a middle-class bond an A-rating (by Creditreform Rating).
The SeniVita OHG (together with its subsidiaries " SeniVita Group ") was founded in 1998 and the group has about 1,250 employees. They cared for in their bodies about 900 residents and also for education about 285 students. The SeniVita Group is one of the largest private carrier in Bavaria for care, disability and education. The entire group operates 13 nursing and care facilities, and five school operations. The issuer itself is a 100%-owned subsidiary of SeniVita OHG thereof and operates four nursing and care facilities. Sales for the entire group is about 30 million € in 2010 (HGB, unaudited).
Of the transaction:
Issuer: SeniVita social profit company
Subscription Period: 9.5.-13.5.2011
Coupon: 6.50%
First notice: 17/05/2011
Term: 17th May 2016 (5 years)
Segment: Entry Standard
WKN: A1KQ3C
Rating: A-(by Creditreform Rating)
Issue volume: 15 million €, Coupon: 6.50%
The SeniVita social profit company issued a corporate bond with a volume of 15 million €. The coupon is 6.50%. The bond can of 9 to 13 May be drawn. For 17 May is the first listing in the Entry Standard segment designed for corporate bonds. SeniVita was the first issuer of a middle-class bond an A-rating (by Creditreform Rating).
The SeniVita OHG (together with its subsidiaries " SeniVita Group ") was founded in 1998 and the group has about 1,250 employees. They cared for in their bodies about 900 residents and also for education about 285 students. The SeniVita Group is one of the largest private carrier in Bavaria for care, disability and education. The entire group operates 13 nursing and care facilities, and five school operations. The issuer itself is a 100%-owned subsidiary of SeniVita OHG thereof and operates four nursing and care facilities. Sales for the entire group is about 30 million € in 2010 (HGB, unaudited).
Of the transaction:
Issuer: SeniVita social profit company
Subscription Period: 9.5.-13.5.2011
Coupon: 6.50%
First notice: 17/05/2011
Term: 17th May 2016 (5 years)
Segment: Entry Standard
WKN: A1KQ3C
Rating: A-(by Creditreform Rating)
Daimler International Finance BV issued another floater with a maturity of 2 ½ years
Coupon: 3-month Euribro +40 bp
Daimler International Finance BV issued another bond with a floating rate years (FRN) and a term of 2 ½. The issue size is 200 million €. The spread is 40 basis points over the 3-month Euribor. Daimler AG is guarantor.
Of the transaction:
Issuer: Daimler International Finance BV
Guarantor: Daimler AG
Format: Floating Rate Note
Ratings: A3 and BBB + (both stable) and BBB + (positive)
Volume: 200 million €
Settlement: 18/05/2011
Duration: 11/18/2013
Coupon: 3-month Euribro +40 bp
Listing: Luxembourg
Timing: open books
Coupon: 3-month Euribro +40 bp
Daimler International Finance BV issued another bond with a floating rate years (FRN) and a term of 2 ½. The issue size is 200 million €. The spread is 40 basis points over the 3-month Euribor. Daimler AG is guarantor.
Of the transaction:
Issuer: Daimler International Finance BV
Guarantor: Daimler AG
Format: Floating Rate Note
Ratings: A3 and BBB + (both stable) and BBB + (positive)
Volume: 200 million €
Settlement: 18/05/2011
Duration: 11/18/2013
Coupon: 3-month Euribro +40 bp
Listing: Luxembourg
Timing: open books
Precious bond has a coupon of 7.00%, maturity 5 years
Offer Period: 9 to 20 May
The Entertainment Services Edel AG issued a corporate bond with a maturity of 5 years, the coupon is 7.00%. The bond can of 9 to 20 May be drawn. The listing on the Open Market is for 23 May provided.
The net proceeds will be used inter alia to finance further acquisitions in the publishing industry.
In the first half of fiscal year 2010/2011 (01.10.2010 - 31.03.2011) achieved sales of precious EUR 73.9 million (first half of 2009/2010: 69.3 million euros). Earnings before tax (EBT) in the first half year 2010/2011 EUR 4.3 million compared to EUR 3.9 million in last year's half-year (+10%). The consolidated net profit rose in first half year 2010/2011 by 40% to EUR 3.5 million (first half year 2009/2010: EUR 2.5 million).
The precious AG in Hamburg sees itself as an entertainment and full-service provider. The company covers all services in the field of books, audio, image tone and volume, focuses on manufacturing and marketing. The precious AG across Europe, and currently employs more than 800 employees.
Noble had been issued only two corporate bonds.
Of the transaction:
Issuer: Edel AG
Coupon: 7.00%
Subscription Period: 09.05.-05.20.2011
Listing: 05/23/2011
Duration: 5 years
Segment: Open Market
Underwriter, Aeon Wertpapierhandelsbank
Internet: Edel AG - Home
Offer Period: 9 to 20 May
The Entertainment Services Edel AG issued a corporate bond with a maturity of 5 years, the coupon is 7.00%. The bond can of 9 to 20 May be drawn. The listing on the Open Market is for 23 May provided.
The net proceeds will be used inter alia to finance further acquisitions in the publishing industry.
In the first half of fiscal year 2010/2011 (01.10.2010 - 31.03.2011) achieved sales of precious EUR 73.9 million (first half of 2009/2010: 69.3 million euros). Earnings before tax (EBT) in the first half year 2010/2011 EUR 4.3 million compared to EUR 3.9 million in last year's half-year (+10%). The consolidated net profit rose in first half year 2010/2011 by 40% to EUR 3.5 million (first half year 2009/2010: EUR 2.5 million).
The precious AG in Hamburg sees itself as an entertainment and full-service provider. The company covers all services in the field of books, audio, image tone and volume, focuses on manufacturing and marketing. The precious AG across Europe, and currently employs more than 800 employees.
Noble had been issued only two corporate bonds.
Of the transaction:
Issuer: Edel AG
Coupon: 7.00%
Subscription Period: 09.05.-05.20.2011
Listing: 05/23/2011
Duration: 5 years
Segment: Open Market
Underwriter, Aeon Wertpapierhandelsbank
Internet: Edel AG - Home
FFK Environment offers a coupon of 7.25% and quarterly interest payment
FFK makes waste of money, bond issue is designed to accelerate growth
The FFK Environment GmbH, a manufacturer of climate-friendly alternative fuels (RDF) from waste, plans to issue a corporate bond to finance further growth. The issue is scheduled for May 2011. Thereafter, the listing is in the "middle class market," the Dusseldorf Stock Exchange.
Company
The FFK Environment GmbH provides climate-friendly alternative fuels from waste (household garbage and construction waste). Replacement fuels to replace fossil fuels such as lignite or coal in power generation in power plants and in the cement industry. In the business areas of logistics and management, commodity production and commodity trading, the company offers services related to waste disposal and the recycling of secondary raw materials in the recycling process. The FFK Environment operates the largest facility for the production of alternative fuels in Brandenburg, with an annual processing capacity of 280,000 tonnes. This allows about 350,000 tons of climate-damaging coal to replace Brown. The customers of the company include major utilities like Vattenfall and E. ON as well as leading European cement manufacturers such as Heidelberg Cement Cemex or Dyckerhoff.
Business
The FFK Environment GmbH has completed the 2010 fiscal year with a total capacity of 26.5 million euros (+11%) and a record profit (EBIT) of EUR 3.3 million (+ 107%). Net income rose from EUR 0.9 million to 1.9 million euros (+116%). With total assets of 20.5 million euros, the equity ratio was approximately 26.4%, 30/12/2010.
-------------------------------------------------- ------------------
EVENT NOTICE:
On 24 May in Cologne, the Entrepreneur Workshop "corporate bonds - a chance for the middle class instead.
Partners of the event are: BOND MAGAZINE, Börse Stuttgart, Creditreform rating IR.on, Osborne Clarke and quirin bank
Details at Bond Conference: Unternehmensanleihen
-------------------------------------------------- ------------------
Funds
The funds from the loan will finance FFK largely on both the organic and the inorganic growth. In addition to new facilities in Berlin and Eisenhuettenstadt also be explored acquisitions of regional waste management companies to increase coverage of the input side with household and commercial waste. With two acquisition targets we are already in negotiations.
Frank Kochan, CEO of the FFK Environment GmbH, said: "We plan our production of climate-friendly fuels to expand significantly. The opportunities in this market are currently better than ever, and to inspire the debate on our energy systems faster rate. For alternative fuels a climate-friendly energy source, reducing the customers, such as cement manufacturers and energy suppliers provide their CO2 emissions and thus save significant costs for emission rights can. "
Conclusion:
FFK Environment operates in a promising market. The business model suited to the present time. Even CEO Frank Kochan, who owns 100% of the shares, makes us a very positive impression. From 2013, the power plant customers FFK their bid for CO2 allowances in full. So the business should lead clearly gathering pace. The issue size is expected in comparison to the previous total assets be quite large. The funds will, however, in large part to acquisitions. Two garbage collectors, both of which are profitable, the company is in negotiations. Thus, it should succeed the company to extend the value chain.
A detailed analysis can be found at the beginning of the subscription period under the heading "Bond Check.
FFK Environment - Key figures of the bond
Subscription Period: 16.05.-31.05.2011
Listing: 6/1/2011
Duration: 06/01/2011
Rating: BB + (by Creditreform Rating)
Coupon: 7.25%, quarterly interest payment
Yield: 7.45%
Segment: Mid-Market of the Stock Exchange Dusseldorf
Institutional Sales: Donner & Reuschel
Issue Size: Up to 25 million €
ISIN: DE000A1KQ4Z
FFK makes waste of money, bond issue is designed to accelerate growth
The FFK Environment GmbH, a manufacturer of climate-friendly alternative fuels (RDF) from waste, plans to issue a corporate bond to finance further growth. The issue is scheduled for May 2011. Thereafter, the listing is in the "middle class market," the Dusseldorf Stock Exchange.
Company
The FFK Environment GmbH provides climate-friendly alternative fuels from waste (household garbage and construction waste). Replacement fuels to replace fossil fuels such as lignite or coal in power generation in power plants and in the cement industry. In the business areas of logistics and management, commodity production and commodity trading, the company offers services related to waste disposal and the recycling of secondary raw materials in the recycling process. The FFK Environment operates the largest facility for the production of alternative fuels in Brandenburg, with an annual processing capacity of 280,000 tonnes. This allows about 350,000 tons of climate-damaging coal to replace Brown. The customers of the company include major utilities like Vattenfall and E. ON as well as leading European cement manufacturers such as Heidelberg Cement Cemex or Dyckerhoff.
Business
The FFK Environment GmbH has completed the 2010 fiscal year with a total capacity of 26.5 million euros (+11%) and a record profit (EBIT) of EUR 3.3 million (+ 107%). Net income rose from EUR 0.9 million to 1.9 million euros (+116%). With total assets of 20.5 million euros, the equity ratio was approximately 26.4%, 30/12/2010.
-------------------------------------------------- ------------------
EVENT NOTICE:
On 24 May in Cologne, the Entrepreneur Workshop "corporate bonds - a chance for the middle class instead.
Partners of the event are: BOND MAGAZINE, Börse Stuttgart, Creditreform rating IR.on, Osborne Clarke and quirin bank
Details at Bond Conference: Unternehmensanleihen
-------------------------------------------------- ------------------
Funds
The funds from the loan will finance FFK largely on both the organic and the inorganic growth. In addition to new facilities in Berlin and Eisenhuettenstadt also be explored acquisitions of regional waste management companies to increase coverage of the input side with household and commercial waste. With two acquisition targets we are already in negotiations.
Frank Kochan, CEO of the FFK Environment GmbH, said: "We plan our production of climate-friendly fuels to expand significantly. The opportunities in this market are currently better than ever, and to inspire the debate on our energy systems faster rate. For alternative fuels a climate-friendly energy source, reducing the customers, such as cement manufacturers and energy suppliers provide their CO2 emissions and thus save significant costs for emission rights can. "
Conclusion:
FFK Environment operates in a promising market. The business model suited to the present time. Even CEO Frank Kochan, who owns 100% of the shares, makes us a very positive impression. From 2013, the power plant customers FFK their bid for CO2 allowances in full. So the business should lead clearly gathering pace. The issue size is expected in comparison to the previous total assets be quite large. The funds will, however, in large part to acquisitions. Two garbage collectors, both of which are profitable, the company is in negotiations. Thus, it should succeed the company to extend the value chain.
A detailed analysis can be found at the beginning of the subscription period under the heading "Bond Check.
FFK Environment - Key figures of the bond
Subscription Period: 16.05.-31.05.2011
Listing: 6/1/2011
Duration: 06/01/2011
Rating: BB + (by Creditreform Rating)
Coupon: 7.25%, quarterly interest payment
Yield: 7.45%
Segment: Mid-Market of the Stock Exchange Dusseldorf
Institutional Sales: Donner & Reuschel
Issue Size: Up to 25 million €
ISIN: DE000A1KQ4Z
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