A team led by Dr. Thorsten Kuthe advised Nexway AG on the placement of a bond with a volume of 8 million euro and an interest rate of 10 per cent as part of a private placement with institutional investors.
The new secured Nexway bond has a term of 15 months and quarterly interest payments. The eCommerce provider intends to use the proceeds of the issue for corporate purposes. This includes the financing of capital expenditures specifically related to the Academics business unit. At present, a stock exchange listing of the bond is not planned.
Nexway was founded in 1995 to expand the digital distribution and sales potential of software, retail and service companies in 140 countries around the globe. In 2019, the company was acquired by asknet AG, creating Nexway Group and bringing together bringing together two of Europe's largest eCommerce and payment companies. The company, now operating under the Nexway brand, generates annual sales of 200 million euros and employs 180 people in its branches worldwide today. Nexway’s head offices are located in Karlsruhe (Germany) and Paris-La Défense (France) and it has branches in the US, Japan, Italy, Poland and Switzerland.
Advisors to Nexway AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets Law), Cologne
Michael Neises (Financing), Frankfurt
Anna Richter, LL.M. (both Capital Markets Law), both Cologne
Irene Braunagel (Financing), Frankfurt