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Today investors had their first opportunity to purchase the new bond from Dürr, a mechanical engineering and plant construction group from Baden-Wuerttemberg, by subscribing directly through Boerse Stuttgart's SME segment, Bondm. Demand for this bond was so strong that it became vastly oversubscribed in next to no time so that the offering closed early through allocation. The total issuing volume of EUR 150 million was reached in just two hours. "The offering of the Dürr bond, the fourth in the Bondm segment, was a complete success. This shows that our SME segment continues to forge full steam ahead. The strong demand shows that private investors are convinced by the merits of this segment," said Sabine Traub, Head of Bond Trading at the Stuttgart Stock Exchange.
Ralph Heuwig, CFO of Dürr AG, was also pleased by the positive response: "We are very happy about the issue's success: We are not only lowering our interest costs and improving maturity date structures, but are also pleased about the wonderful response that the capital market has shown to our innovative placement concept." Many investors wished to benefit from the advantage of subscribing to the bond at the issuing price as it is usually lower than the price at which a bond is first quoted on the stock exchange. The bond has a coupon of 7.25 percent and matures in five years in September 2015.
The Dürr AG's bond will be traded in Bondm, Boerse Stuttgart's SME segment, from 28 September 2010 and is denominated in nominal units of EUR 1,000, which is particularly suitable for the needs of retail customers. Investors who are interested can find detailed information on listed bonds and trading at our website, www.boerse-stuttgart.de. Boerse Stuttgart TV also brings weekly reports on bonds and new issues, which are also announced in our Bonds weekly newsletter.
