Heuking Kühn Lüer Wojtek Advises SIAG Schaaf Industrie Aktiengesellschaft on Corporate Bond Issue

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.