With HEUKING, all good things come in threes – bond issuance offensive at the end of the year
A team led by HEUKING partner Dr. Thorsten Kuthe in Cologne provided legal advice on several bond issues at the end of the year. The issuers included SANHA GmbH & Co. KG, Score Capital AG, and The Platform Group GmbH & Co. KG.
SANHA places bond and already raises €14.7 million
SANHA GmbH & Co. KG has successfully placed its new 2024/29 corporate bond (ISIN DE000A383VY6 / WKN A383VY) with a volume of €14.7 million on the capital market. Subscription began on November 5 with a target volume of €20 million, corresponding to a placement rate of 73.5%. The majority of the issue volume was raised through an exchange offer to holders of the SANHA 2013/26 bond. In addition, on December 13, 2024, SANHA approved a buyback offer with a nominal volume of up to €5 million for the 2013/2026 corporate bond (ISIN: DE000A1TNA70, WKN: A1TNA7, the "2013/2026 bond") at a price of 100% and commenced the buyback. The new 20224/29 bond has been traded on the Open Market of the Frankfurt Stock Exchange since December 10, 2024.
The family-run SANHA GmbH & Co. KG, based in Essen, is one of Europe's leading manufacturers of pipe systems for building services and industry with an international customer base. Its portfolio includes not only fittings and pipes made of copper and copper alloys (silicon bronze, red brass), stainless steel, carbon steel, and composite materials, as well as practical piping systems, but also related special tools for professional use. With a total of around 700 employees, the full-range supplier SANHA generates annual sales of around 130 million euros.
Score Capital lists "football bond" on the Frankfurt Stock Exchange
Score Capital AG has raised €5 million on the capital market in the first step during the subscription phase of its new three-year corporate bond 2024/27 (ISIN: DE000A383V65). In the second step, the maximum volume of the 8.00% bond is to be reached at €20 million. Score Capital AG, which already has capital market experience from the issuance of a first corporate bond in 2020 and various structured products, also targeted private investors for the first time with this issue. The "football bond" is now listed on the Frankfurt Stock Exchange and can be traded.
Score Capital AG is an established company in the financial sector that specializes in issuing corporate bonds and structured products and acts as a financial services provider and "intermediate financier" in the professional soccer business. Since its foundation, Score Capital has successfully launched several financial products and established itself as a reliable partner for investors. With the new "football bond," Score Capital is expanding its range of products and specifically targeting private investors.
The Platform Group – an additional 20 million for further acquisitions
The Düsseldorf-based e-commerce group The Platform Group GmbH & Co. KG has increased the volume of its 2024 corporate bond issued in the summer under Norwegian law (Nordic Bond) by €20 million to €50 million. The new bonds were placed with institutional investors as part of a private placement and were significantly oversubscribed. The placement was therefore terminated early after one day. The proceeds will be used for further acquisitions. An investment volume of at least 30 to 40 million euros is planned for 2025. The company has already completed nine acquisitions worth EUR 37 million in the current year. The team led by Dr. Thorsten Kuthe had already provided legal advice on the placement of the original bond.
The Platform Group GmbH & Co. KG is a leading e-commerce group specializing in connecting brick-and-mortar retailers and online retailers. With more than 850 employees worldwide, the company offers comprehensive solutions for digital commerce in 23 industries. The Platform Group uses state-of-the-art technology and customized marketing strategies to enable its partners to achieve an optimal online presence.
Counsel SANHA GmbH & Co. KG
HEUKING:
Dr. Thorsten Kuthe (lead),Dr. Christoph Schork, LL.M.,
Christopher Görtz,
Anna Richter, LL.M.,
Hannah Hermann,
Meike Daniels (all Capital Markets), all Cologne
Counsel to Score Capital AG
HEUKING:
Dr. Thorsten Kuthe (lead, capital markets law), Cologne,
Julia Cramer (investment funds), Hamburg,
Anna Richter, LL.M. (capital markets law), Cologne
Counsel to The Platform Group GmbH & Co. KG
HEUKING:
Dr. Thorsten Kuthe (lead),
Miriam Schäfer (both Capital Markets), both Cologne
