Assisted by Heuking Kühn Lüer Wojtek, the leading supplier of the wind energy industry, SIAG Schaaf Industrie Aktiengesellschaft, is placing a corporate bond at Frankfurt Stock Exchange's Entry Standard.
Dr. Thorsten Kuthe and his team of Heuking Kühn Lüer Wojtek's Cologne office advised the company on the bond with a volume of up to 50 million euro in terms of capital market law. The transaction represented Thorsten Kuthe's fifth issue by a mid-sized company this year already. Additional projects are in preparation. "The trend to bonds issues by mid-sized companies is ever continuing. Especially for smaller and mid-sized companies, an issue represents a useful financing alternative to allow them to implement specific projects," Kuthe explained.
In the past 15 years, SIAG Schaaf Industrie Aktiengesellschaft has developed from a traditional steel construction company to the leading supplier of the energy industry. With its business units Wind Power Technology Onshore and Maritime Systems Offshore, the owner-led family company is a major actor in the wind energy industry. The corporate bond serves to support growth in the new-technology market of offshore wind power with additional funds to allow the company to better use opportunities on the world market.
The world-renowned rating agency Standard & Poor’s issued a corporate rating of B- to SIAG AG. An additional level of quality is provided by the financial covenants that grant future bond creditors a unilateral right of cancellation under certain circumstances.