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The corporate bond of Dürr AG has been topped up by EUR 75 million through Boerse Stuttgart's segment for small and medium-sized companies (SME). Thanks to heavy demand from investors, the top-up tranche was placed via Boerse Stuttgart within just a few hours. From 6 December, investors had been offered to acquire the top-up tranche at an issue price of 104.9 percent. It has a coupon of 7.25 percent, matures in September 2015 and a nominal value of EUR 1,000 per bond, which is ideal for the needs of private investors. Trading under the German securities code (WKN) A1EWNJ also started yesterday after the successful placement.
Following the first tranche of the bond issue of Dürr in September, the top-up tranche has also met with enormous demand from investors. "The buoyant demand shows that many private investors are seeking investment opportunities in the corporate bond market," says Sabine Traub, Head of Bond Trading at the Stuttgart Stock Exchange. The top-up tranche has initially been allotted a separate securities code. According to schedule, from 14 January 2011, the issue ranks equal with the offering of 21 September 2010, and the bonds of both tranches carry the German securities code (WKN) A1EWGX as from this date.
After the successful placement of Dürr AG's top-up tranche, the latest new issue this year is the corporate bond issue from RENA GmbH which has a coupon of 7 percent. The subscription period for this bond runs until 14 December. Private investors can buy bonds, which have a nominal value of EUR 1,000 each, directly from their house bank by sending a buy order to Boerse Stuttgart or they can acquire them from the issuer.
Further information on Bondm and an overview of the corporate bonds traded in the segment can be found at www.boerse-stuttgart.de.
