Würth Group successfully places benchmark bond of EUR 600 million
As part of its capital market-oriented financing strategy, the Würth Group has successfully placed a EUR 600 million euro bond on the market via its finance company Würth Finance International B.V.
The bond with a term of 8,25 years running until 23 August 2030 has an interest coupon of 2,125 percent p.a. and is secured by an unconditional, irrevocable guarantee of Adolf Würth GmbH & Co. KG. The rating agency Standard & Poor's has given the bond a rating of "A, outlook stable".
The issue was led by the joint lead managers DZ Bank, UniCredit Bank, UBS and Banco Santander. Following the announcement of the issuance, the transaction was successfully completed on the same day. For investors, the issue yields 2,1740 percent per annum.
Given the relatively turbulent times, the issuance of the second largest bond in history is a sign of confidence in the stability of the company. It strengthens the Würth Group's long-term financing and liquidity base as a foundation for future growth. The average term of the Würth Group's outstanding financial liabilities is extended significantly.
About the Würth Group
The Würth Group is the world’s market leader in the development, production, and distribution of assembly and fastening materials. Other trading and production companies, known as the Allied Companies, operate in related business areas, including electrical wholesaling, electronics, and financial services. The Group employs more than 83,000 employees in over 400 companies operating 2,500 shops across 80 countries. According to the audited annual financial statement, the Group generated consolidated sales of EUR 17.1 billion and an operating result before tax of EUR 1,270 million in the 2021 fiscal year.
This press information neither constitutes an offer for sale nor a solicitation of an offer to purchase securities nor an invitation to otherwise purchase securities. It does furthermore not create the basis for a contract on the purchase or subscription of securities. This press release neither constitutes an offer for sale nor a solicitation of an offer addressed to any person in any jurisdiction where it is unlawful for such an offer or solicitation to be addressed.
Securities may be offered or sold in the United States of America only after prior registration or without prior registration pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933 (“Securities Act”), as in effect at any given time. The securities referred to in this press release have not been nor will they be registered under the Securities Act. There has not been nor will there be a public offering of the securities referred to in this press release in the United States of America.
Potential investors are requested to make their investment decisions regarding the securities referred to in this press release solely based on the information provided in the prospectus as approved and published by the Commission de Surveillance du Secteur Financier, Luxemburg (“CSSF”). The prospectus will be published by Würth Finance International B.V. on the website www.wuerthfinance.net.