Gleiss Lutz advises Hornbach on corporate bond offering

Gleiss Lutz has advised Hornbach Baumarkt AG on its successful bond offering in an amount of EUR 250 million. The bonds are due 2020 and listed on the regulated market in Luxembourg.

The bonds, issued with a nominal value of 1000 euros, were offered to private investors in Germany and Austria as well as institutional investors. Due to strong investor demand, the issue was significantly oversubscribed.

The proceeds of the issue will also be used for the early repayment of an outstanding bond to be redeemed on 25 February 2013. The bond pays a coupon of 3.875% and was issued at a price of 99.25% resulting in a yield of 4.00% p.a.

Joint lead managers and bookrunners were Commerzbank, HSBC und UniCredit Bank.

Hornbach was advised by the following team of Gleiss Lutz lawyers: Dr. Kai Arne Birke (lead, partner), Dr. Hoimar von Ditfurth (partner), Alexander Gebhardt and Teresa Baldwin (all corporate and capital markets, Frankfurt).