HOMANN HOLZWERKSTOFFE GmbH
Homann Holzwerkstoffe GmbH issues third corporate bond 2021/2026
DGAP-News: HOMANN HOLZWERKSTOFFE GmbH
/ Key word(s): Bond
Homann Holzwerkstoffe GmbH issues third corporate bond 2021/2026
Munich, 9 February 2021 – Homann Holzwerkstoffe GmbH, one of the leading European suppliers of thin, refined wooden fibreboards for the furniture, door and coating industries, will issue its third corporate bond and plans the early redemption of the existing Bond 2017/2022. The securities prospectus for the new Bond 2021/2026 (ISIN: DE000A3H2V19, WKN: A3H2V1) was today approved by the Luxembourg Financial Supervisory Authority, Commission de Surveillance du Secteur Financier (CSSF), and notified to the German Federal Financial Supervisory Authority (BaFin). The Bond 2021/2026 has a target volume of EUR 60 million, which is intended to be used to refinance the existing Bond 2017/2022 (ISIN: DE000A2E4NW7, WKN: A2E4NW); the latter has been callable by the company since 14 June 2020 at a price of 101.5% under certain conditions (call option). The new bond has a term of 5.5 years and offers an annual fixed coupon rate in the range from 4.50% to 5.00%. The final coupon and the final volume will be determined after the end of the offer period based on the subscription orders received and published via the pricing notification. Holders of the Bond 2017/2022 will have the opportunity to exchange their notes for notes of the new bond in the context of a public exchange offer from 10 February 2021 to 25 February 2021, 18:00 h. For each exchanged Note 2017/2022 with a nominal value of EUR 1,000, the holders will receive a new Note 2021/2026 with a nominal value of EUR 1,000 and an additional amount of EUR 25.00. In addition, noteholders participating in the public exchange offer may acquire additional notes under a multiple purchase option. The public offer for subscription to the new third bond will be made in Germany and Luxembourg and will be processed via the subscription functionality of Deutsche Börse. The subscription period will run from 1 March 2021 to presumably 4 March 2021, 14:00 h (subject to early closing). The notes will also be offered by way of a private placement in Germany, Luxembourg and certain other jurisdictions. The new Bond 2021/2026 is planned to be listed on the Open Market of the Frankfurt Stock Exchange in the Quotation Board segment. IKB Deutsche Industriebank AG is Sole Lead Manager of the issue. Earnings and balance sheet ratios clearly improved in recent years Fritz Homann, Managing Director of the Homann Holzwerkstoffe Group: “Financing via the capital market has been a great success for our company and our previous investors. We used the proceeds from the first issue in 2012 to finance our expansion to Eastern Europe. This resulted in increased profitability and higher cash flows, which allowed us to clearly reduce our net debt and leverage. In absolute terms, Group revenues thus increased by around EUR 100 million or 7% p.a. (CAGR) to EUR 274 million between 2012 and 2019. During the same period, operating EBITDA rose sharply from EUR 12 million to EUR 47 million. Leverage has recently been reduced to 2.4x.” What is more, the Homann Holzwerkstoffe Group has proven the crisis resilience of its business model in the past months, which have been marked by the pandemic. Although revenues declined as a result of the lockdown in April and May 2020, the Group was able to keep its operating result stable at a high level in 2020 as a whole, according to preliminary figures. The robust business model and the solid financial ratios were also underpinned in autumn 2020 by the rating agency Creditreform, which confirmed the BB- rating and raised the outlook to “stable”. “On this financially solid basis, our expansion plans are taking shape with the planned new plant in Lithuania. Having acquired the land in November, we are now in the middle of the approval planning process. Construction is expected to begin in the second quarter of 2021, with production scheduled to start in the second half of 2022,” Fritz Homann adds. Helmut Scheel, Managing Director and CFO of Homann Holzwerkstoffe GmbH: “In view of the positive capital market experience to date, we made a conscious decision to issue another bond. With a strong foundation consisting of stable long-term relationships with customers, suppliers, investors and banks, and above-average credit ratios, we believe we offer a solid yet attractive investment for investors with a medium-term investment horizon.” The securities prospectus is available for download at https://www.homann-holzwerkstoffe.de/en/investor-relations/ and https://www.bourse.lu .
About Homann Holzwerkstoffe Headquartered in Munich, Homann Holzwerkstoffe Group is a leading supplier of thin, high-quality finished medium-density and high-density fibreboards (MDF/HDF). With production plants in Losheim am See, Germany, as well as Karlino and Krosno/Oder, Poland, the Group serves the global furniture, door and coating industries, with the main focus on the European markets. The family-owned company looks back on a long tradition and has been established on the capital market since 2012. Its 2017/2022 corporate bond (ISIN: DE000A2E4NW7; WKN: A2E4NW) is listed on the Frankfurt Stock Exchange in the Scale segment. Key data of the Homann Holzwerkstoffe corporate bond 2021/2026
Press/Investor Relations: Contact:
This press release as well as the information contained herein do not represent an offer to sell or an invitation to buy securities of Homann Holzwerkstoffe GmbH in the Federal Republic of Germany or in the Grand Duchy of Luxembourg or in another country and shall not be construed as such, in particular if such an offer or such an invitation is forbidden or not permitted, and do not replace the securities prospectus. Potential investors in notes of the Bond 2021/2026 of Homann Holzwerkstoffe GmbH are asked to seek information about such restrictions and to comply with them. An investment decision regarding the notes of the Bond 2021/2026 of Homann Holzwerkstoffe GmbH may be made only based on the securities prospectus approved by the Luxembourg Financial Supervisory Authority (Commission de Surveillance du Secteur Financier – CSSF) on 9 February 2021, which is available at https://www.homann-holzwerkstoffe.de/en/investor-relations/ and www.bourse.lu. The CSSF’s approval should not be understood as an endorsement of the securities offered. Potential investors should read the prospectus before making an investment decision in order to fully understand the potential risks and opportunities of the decision to invest in the securities. The information contained in this document may not be distributed outside the Federal Republic of Germany and the Grand Duchy of Luxembourg, in particular not in the United States of America, to U.S. persons (as defined in Regulation S of the United States Securities Act of 1933) or to publications with a general circulation in the United States of America, unless such distribution outside the Federal Republic of Germany and the Grand Duchy of Luxembourg is required by mandatory provisions of applicable law. Any breach of this restriction may constitute a violation of the securities regulations of certain countries, in particular the United States of America. Notes of Homann Holzwerkstoffe GmbH are not publicly offered for sale outside the Federal Republic of Germany and the Grand Duchy of Luxembourg.
09.02.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | HOMANN HOLZWERKSTOFFE GmbH |
Adalbert-Stifter-Straße 39a | |
81925 München | |
Germany | |
Phone: | 089 99 88 69-0 |
Fax: | 089 99 88 69-21 |
E-mail: | tk@homanit.org |
ISIN: | DE000A2E4NW7 |
WKN: | A2E4NW |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1167032 |
End of News | DGAP News Service |