Heuking advises IKB Deutsche Industriebank AG and Pareto Securities AS on DEAG’s EUR 50 million corporate bond issue

A team led by Heuking Partner Dr. Thorsten Kuthe, Cologne, legally advised and supported IKB Deutsche Industriebank AG and Pareto Securities AS in connection with DEAG’s EUR 50 million corporate bond issue. DEAG Deutsche Entertainment Aktiengesellschaft successfully completed the placement of its Corporate Bond 2023/2026 with an issue volume of EUR 50 million. The issue was oversubscribed by a significant margin.

Structured as a Nordic bond, the corporate bond has a term of three years. IKB Deutsche Industriebank AG and Pareto Securities AS, Frankfurt Branch, acted as Joint Lead Managers for the bond issue. The bond was included in Deutsche Börse AG’s Open Market trading. Inclusion in the Nordic ABM, a self-regulated marketplace organized and operated by Oslo Stock Exchange, is scheduled to be added within six months from the bond issue. DEAG views the positive response from the capital market as confirmation of its corporate strategy to continue its dynamic growth course. Proceeds from the issue will also be used to refinance the Corporate Bond 2018/2023.

DEAG Deutsche Entertainment AG’s offering consisted of an exchange offer including a multiple purchase option to the holders of the Corporate Bond 2018/2023, a public offering via subscription through Deutsche Börse, and a private placement. DEAG Deutsche Entertainment Aktiengesellschaft, a leading entertainment service firm and live entertainment provider, was founded in Berlin in 1978. With its group companies, DEAG operates at 20 sites in its core markets of Germany, the UK, Switzerland, Ireland, and Denmark.

Counsel to IKB Deutsche Industriebank AG and Pareto Securities AS on German law
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Miriam Schäfer,
Tatiana Vorotnitskaya, k.i.n. (all Capital Markets), all Cologne

The banks were advised on Norwegian law by Wikborg Rein.