Successfully placed: DEAG increases corporate bond issue
A team led by Dr. Thorsten Kuthe assisted DEAG Deutsche Entertainment Aktiengesellschaft in the successful EUR 5 million increase of its corporate bond originally issued in the fall of 2018. The bond was increased by means of an institutional private placement, raising the volume to EUR 25 million. The private placement was managed by IKB Deutsche Industriebank and was oversubscribed several times.
In October 2018, DEAG had prematurely completed the placement of its first bond 2018/23 with an issue volume of EUR 20 million. Kuthe and his team advised IKB Deutsche Industriebank at the time.
The proceeds will be used to finance continued corporate development and to diversify the financing structure. DEAG also intends to expand further. Most recently, the company had invested in C² CONCERTS, I-Motion GmbH and Michael Drieberg’s Swiss group of companies.
Counsel to DEAG Deutsche Entertainment Aktiengesellschaft
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Sascha Beck, (all Capital Markets), all Cologne