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The subscription for the Laurèl GmbH (ISIN: DE000A1RE5T8) – which is to be included in the Entry Standard for corporate bonds – ended on its very first day. The subscription was originally supposed to run until 14 November. But the total volume of 20 million was already able to be placed on the market by late morning on the first day of subscription.
The bond runs until November 2017 and has an interest rate of 7.125 percent. Its nominal denomination is €1,000. Trading is planned to commence on 30 October 2012. Close Brothers Seydler Bank AG is the specialist.
“We are delighted that Laurèl has decided to issue its bond on the Frankfurt Stock Exchange. The Entry Standard for bonds also offers non-listed companies the opportunity to raise debt capital straightforwardly via the stock exchange,” said Barbara Georg, Head of the Listing & Issuer Services section at Deutsche Börse.
“We are a very internationally oriented SME and already make 50% of our revenues outside Western Europe in important future markets for premium and luxury fashion, such as China, Russia and Mexico. This meant it was only logical to turn to the Frankfurt Stock Exchange as the financial centre that is recognised internationally,” said Dirk Reichert, managing director of Laurèl GmbH.
According to information provided by the company, Laurèl designs and sells womenswear, bags, shoes and accessories. In the wholesale segment, sales are made in more than 730 sales areas in over 40 countries, including multi-brand spaces, shop-in-shops and sales areas at franchisees. In the retail segment, Laurèl sells its products through ten stores of its own in Germany, Austria, Spain, Hong Kong and China and three outlet stores in Germany and Belgium.
