Norton Rose Fulbright with Sixt on €500 million corporate bond issuance
Norton Rose Fulbright advised Sixt on the placement of a corporate bond with a volume of €500 million.
The benchmark bond, maturing in January 2031 and rated BBB by S&P, was placed with international investors. The order book exceeded €1.6 billion. The bond was issued with an interest rate of 3.75 per cent. and a spread of 90 basis points, the lowest spread in SIXT’s corporate history.
The joint lead managers of the bond issue were Bayerische Landesbank, Commerzbank Aktiengesellschaft (technical lead), Deutsche Bank Aktiengesellschaft, ING Bank and UniCredit Bank.The proceeds of the issuance will primarily be used to finance the continued growth of the Sixt Group.
Headquartered in Pullach near Munich, Sixt is a provider of mobility services.
The legal teams
The Norton Rose Fulbright team working on the matter was led by Frankfurt partner Christoph Enderstein, who heads the firm’s debt capital markets practice in Germany.
The lineup also included counsel Michael Born (debt capital markets/regulatory) as well as senior associate Florian Fraunhofer and associate Quynh-Anh Nguyen-Walter (both debt capital markets, Frankfurt).
At Sixt, Ferdinand Oelschlegel advised in-house in connection with the issue of the bond.
