DF Deutsche Forfait AG, a specialist in foreign trade financing, has successfully placed its corporate bond within a short duration of time. The order book for the bearer bond, issued with a coupon of 7.875% p.a. and a maturity of 7 years, had to be closed prematurely just a few hours after the subscription period began.
The subscription period was originally scheduled to run until May 24, 2013. All orders under EUR 100,000 issued by investors as part of the Börse Frankfurt subscription process were recognised at a maximum volume of EURO 6,000. All orders above EURO 100,000 were allocated at EURO 10,000. Start of trading on the Börse Frankfurt (on a when-issued basis) as part of the Entry Standard for bonds is scheduled for Wednesday May 22, 2013. The issue value date remains May 27, 2013.
"We are delighted with the high level of demand we have seen from both institutional and private investors," says Frank Hock, CFO of DF Deutsche Forfait AG. "Our plans to expand our business volume and establish a new class of investment with our trade finance funds have been met with a great deal of interest from investors." DF Deutsche Forfait AG intends to use the revenues from the bond issue to expand its export receivables purchasing activities, particularly those with trading partners in emerging markets, from around EUR 680 million to over EURO 1 billion per year over the medium term. Moreover, the DF Group is also creating a second major source of earnings in asset management and services for trade finance funds through its new subsidiary Deutsche Kapital Limited, Dubai. Equinet Bank AG acted as lead manager and bookrunner for the issue in conjunction with IR.on AG as communications and marketing consultant.-PR
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