Heuking Kühn Lüer Wojtek advises IKB on DEAG’s debut bond issue
As sole lead manager, IKB Deutsche Industriebank AG accompanied the successful placement of a EUR 20 million corporate bond of Deutsche Entertainment Aktiengesellschaft (DEAG). A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, legally advised the bank. Offering an annual coupon of 6%, the bond is listed on Frankfurt Stock Exchange’s Open Market. The bond was placed with a wide range of institutional investors primarily from Germany, but also from Luxemburg and Switzerland. In addition, a notable demand volume was generated through direct subscriptions as part of a public offering on Frankfurt Stock Exchange.
Founded in 1924, IKB Deutsche Industriebank AG (IKB) has some 800 employees and supports small and medium-sized companies with loans as well as capital market and advisory services. IKB’s business model is based on long-standing and stable customer relationships and a clear understanding of SME issues. IKB is headquartered in Düsseldorf.
DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is an entertainment service provider specializing in live entertainment offerings in Europe. DEAG produces and organizes a wide range of profitable events and concerts. As a live entertainment service provider with an integrated business model, DEAG has extensive expertise in organizing, marketing, and carrying out events as well as in ticket sales via its proprietary ticketing platform.
Counsel to IKB Deutsche Industriebank AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Sascha Beck (all Capital Markets), all Cologne
Miriam Schäfer (Capital Markets), Düsseldorf
Marco Witting (Director Capital Markets),
Swetlana Mints (Head of Department Capital Markets)