Capital market law experts Dr. Mirko Sickinger, Partner at the Cologne office, and Tobias Nagel of commercial law firm Heuking Kühn Lüer Wojtek advised KTG Energie AG on a corporate bond issue. The client was advised on prospectus supplements that had to be drafted and the associated disclosures under prospectus law as well as the review by the German Financial Supervisory Authority (BaFin). In addition, advice was provided on the prospectus notification in Austria.
The bond features a total nominal value of EUR 50 million with a maturity of six years and an interest rate of 7.25 percent. The subscription period in Germany began on September 19 and is scheduled to end on September 27, 2012. In Austria, the subscription period will commence on September 21, 2012.
KTG Energie AG has been on the market for seven years and is thus one of the pioneers in the nascent biogas industry. In the first few years, the company focused on gaining technological and biological expertise. In 2011, production capacity doubled from 11 megawatts (MW) to 22 MW. The company currently operates biogas plants with a production capacity of 22.4 MW under full load. KTG Energie AG's sales rose by 50 percent to EUR 21.5 million last year while operating profit (EBIT) advanced by 44 percent to EUR 4 million.
In June, a team led by Mirko Sickinger had already advised KTG Energie AG on its IPO in the Entry Standard, the first IPO of a German company this year.
Counsel to KTG Energie AG:
Heuking Kühn Lüer Wojtek, Cologne
Dr. Mirko Sickinger, LL.M. (Lead), Tobias Nagel (both Capital Market Law)