Sixt successfully places EUR 250 million bond with international investors
- Bond carries a coupon rate of 3.75% p.a., with a term until 2018
- Issue marks further improvement to financing structure
Pullach, 15 May 2012 – Sixt, Germany’s biggest car rental company and a leading full-service leasing provider, has successfully placed a bond with a volume of EUR 250 million on the capital market. The bond, issued by Sixt AG, has a term of six years, ending on 16 May 2018, and carries a coupon rate of 3.75% p.a. The bond was purchased by institutional investors and retail intermediaries from Germany and abroad; it was considerably oversubscribed. Banks BayernLB and Commerzbank AG acted as joint bookrunners.
Dr. Julian zu Putlitz, CFO, Sixt AG: “Once again, Sixt has been able to make use of its excellent reputation on the capital market to refinance itself with attractive terms. With its long term, extending over six years, the bond represents a further improvement to our financial liabilities’ maturity profile and is a key component of the implementation of our growth strategy over the coming years.”
Sixt AG, with its registered office in Pullach near Munich, is an international provider of integrated mobility services. Founded in 1912, the company, together with its franchisees and partners, is represented in more than 100 countries. Sixt is the market leader for car rentals in Germany and Austria and one of the biggest OEM-manufacturer-independent full-service leasing providers. The Sixt Group generated a turnover of € 1.56 billion in 2011 and employs around 3000 people worldwide (excluding franchisees).