The subscription for the Neue ZWL Zahnradwerk Leipzig GmbH bond (NZWL Group, ISIN DE000A1YC1F9) – which is to be included in the Entry Standard – ended on its very first day. The subscription was originally supposed to run until 28 February. But the total volume of €25 million was already able to be placed on the market in the morning of the first day of subscription.
“We are delighted that NZWL Group, as the third company from the former East Germany, is placing a corporate bond in the Frankfurt Stock Exchange's Entry Standard. This rapid placement of the year's first bond proves how great the demand for corporate bonds is. We launched this segment almost three years ago and it has meanwhile firmly established itself as a financing alternative for small and medium-sized companies,” said Dr Cord Gebhard, Head of Primary Markets at Deutsche Börse AG.
The bond has a term of five years and an interest rate of 7.5%. Trading will commence on 19 February. Applicant and specialist is Steubing AG.
According to company sources, the NZWL Group is an international group of companies specialised in manufacturing and selling transmissions, transmission components and gears as well as structural components in small and large series. The NZWL Group sells its products primarily in the automotive industry and has over 100 years of experience in transmission manufacturing. It is also, according to its own information, a leading producer for synchronising direct-shift gearboxes.